KSE index improves on better earnings
https://latestsnewsforyou.blogspot.com/2013/04/kse-index-improves-on-better-earnings.html
KARACHI: The Karachi Stock Exchange’s (KSE) benchmark 100-index improved by 16.85 points Friday as the market gained strength over better earnings, dealers said.
Zafar Moti, an analyst and senior member of the KSE, said that the market showed positive trend despite rumours of negative sentiment.
“The day-to-day political situation may have a little impact over the market but it will not change it drastically, as both local institutes and foreigners are supporting the market,” he said.
The KSE-100 index increased by 16.85 points or 0.09 percent to 18,631.21 points against 18,614.36 points recorded in the last session. The index at one time during the intraday session reached 18,781.18 points while the lowest level of the day was recorded at 18,609.27 points.
The KSE-30 index fell by 15.77 points or 0.11 percent to 14,472.84 points in the session against 14,488.61 points recorded in the last session.
Turnover increased by 12 million shares from 147.44 million shares to 159.34 million shares, while value improved to Rs6.37 billion against Rs6.14 billion. Market capital improved to Rs4.55 trillion against Rs4.54 trillion recorded in the last session.
Analyst at Arif Habib Corp, Ahsan Mehanti, said economic numbers were not impressive that had confused the investors.
“After payments to the International Monetary Fund next month, foreign reserves will go down,” he said. “But, some investors are building their positions on good results in the market that supported the index.”
Senior manager equity sales, Topline Securities (Pvt) Ltd, Samar Iqbal, said “Institutional activity was witnessed in National Bank and Engro Foods.” Further, “Engro Foods closed at its upper cap. Engro Polymer also remained in the limelight after its announced results that exceeded expectations.”
The highest increase was recorded in shares of Unilever Food XD, which increased by Rs68 to Rs4,400 per share followed by Wyeth Pak Ltd XD that rose by Rs63.32 to Rs1,329.82 per share. A major decline was noted in shares of Rafhan Maize, which fell by Rs52 to Rs3,850 per share followed by Indus Dyeing that declined by Rs10 to Rs380 per share.
Significant turnover was recorded in stocks of National Bank, Engro Polymer, Engro Corporation, Maple Leaf Cement and Lotte Pak PTA. National Bank remained the volume leader with 18.86 million shares with an increase of 71 paisas to Rs41.77 per share; it was followed by Engro Polymer with 14.20 million shares with an increase of 31 paisas to Rs11.77 per share.
Shares turnover in the futures market increased to 19.13 million shares from 16.66 million shares traded in the previous session.
Of a total of 348 companies’ stocks traded, 177 advanced, 151 declined and 20 remained unchanged.
Unilever Food Rs68.00
Closing Rs4,400.00
Wyeth Pak Rs63.32
Closing Rs1,329.82
Bhanero Tex Rs14.31
Closing Rs300.64
Rafhan Maize Rs52.00
Closing Rs3,850.00
Indus Dyeing Rs10.00
Closing Rs380.00
Exide Pak Rs6.00
thenews.com.pk
