KARACHI: Hectic buying improved values of leading scrips at Karachi Stock Exchange (KSE) Tuesday as 100-Index surged by 194.78 points to close at 7085.78, dealers said. The turnover volume was high at 155.985 million shares as prices of 207 scrip’s recorded gains while 99 sustained losses and 7 remained unchanged. A dealer at a leading brokerage house said that market was opened on a positive note and 100-Index climbed above 7100 on heavy buying. However, some profit taking eroded values, he added. The market capitalization was improved by about Rs 54.2 billion to Rs 2.099 trillion. Jahangir Siddiqui Co was the volume leader with a turnover of 11.220 million shares followed by Pak PTA 10.975 million shares, OGDC 8.171 million shares, Arif Habib Sec 7.937 million shares and NBP 6.854 million shares. Bank Al-Falah closed at 11.50, Arif Habib Sec 27.69, Lucky Cement 58.44, Bank of Bank 11.89, Pak PTA 3.35, Jahangir Siddiqui Co 25.31, OGDC 75.56 and NBP 63.13.Nestle Pak recorded the highes...

KARACHI: The Karachi stock market wore a dull outlook on the first trading day of the week Monday as investors kept to the sidelines on fears that foreign selling may have a major impact on share prices. Analysts said the 100-share index, despite opening on a positive note failed to maintain its buoyant mood closing in the negative zone. The Karachi Stock Exchange (KSE) 100-share index shed 2.62 pts or 0.04 percent to close at 6,892 points as compared to 6,894.62 points of the previous trading session. The KSE 30-share index decreased by 23.06 points and closed at 7,291.05 points as compared with 7,314.11 points. However, the KMI 30 index gained 56.03 pts to close at 10,305.21 points as against 10,249.18 points. Analysts said lacklustre activities prevailed in the market, which is evident from the poor turnover of 96 million shares witnessed during the trading session. The market turnover went down by 22.90 percent and traded 96.41 million shares as compared to previous session’s 125.0...

Attock Refinery Ltd has convened an extra-ordinary general meeting on June 29, 2009, to take decision on increasing share capital to Rs 1.5 billion and making an investment in an associated company. According to financial results of the company dispatched to Karachi Stock Exchange here Monday, the meeting will also elect seven new directors and issue 50 million ordinary shares at Rs 10 each. Besides, the meeting will also take decision on making an investment in this associated company Attock Gen Ltd.

Despite of massive foreign selling worth of over $8 million in this single session on Friday, the Karachi bourse managed to close with modest gains on late buying in selective securities. Earlier, market had shed more than five per cent or 393 points in the last five consecutive bears-run sessions till yesterday. Owing to this, market had dropped well below 7,000 points strong resistance level. Today, KSE 100-share Index managed to recover 16.48 points or 0.24 per cent and closed at 6,894.62 points. Also, its junior partner the 30-Index inches up by 6.07 points or 0.08 per cent and concluded at 7,314.11 points. “Despite net selling of more than $8 million the market remained firm due to buying by local investors. A record budget for development expenditure coupled with hope of introduction of leverage products forced locals to buy stocks at lower levels,” said Muhammad Sohail at Topline Securities. Few brokers smelled massive profit selling by local financial institutions - particularl...

The unending selling pressure further eroded values of leading scrips at Karachi Stock Exchange (KSE) Thursday as 100-Index lost 111.80 points to close at 6,878.14, dealers said. The turnover volume was low at 93.595 million shares as prices of only 79 scrips recorded gains while 210 sustained losses and 14 remained unchanged. The market capitalisation eroded by about Rs 32 billion to Rs 2.040 trillion. Jahangir Siddiqui Co was the volume leader with a turnover of 12.081 million shares followed by Pak PTA 5.877 million shares, NBP 4.795 million shares, Dewan Cement 4.615 million shares and D G Khan Cement 4.505 million shares. Siemens Pak recorded the highest gain of Rs 14 to close at 984 followed by Dreamworld which moved up by Rs 11 to 245 while Nestle Pak dipped by Rs 48.58 to 923.17 and Treet Corp went down by Rs 12.25 to 232.75.

KARACHI: A leading global index provider, Dow Jones Indexes and the Federation of Euro-Asian Stock Exchanges (FEAS) have plans to launch the Dow Jones FEAS Indexes, which included Karachi Stock Exchange (KSE). According to KSE here Wednesday, this is the first time that indexes are created to measure the performance of companies across the Euro-Asian region. The three indexes that are being launched on June 5, are a composite, and two regional sub-indexes. The Dow Jones FEAS Indexes are designed to underlie index-linked investment products such as funds and structured products. Dow Jones FEAS Composite Index currently includes component stocks of 10 of the 32 member states of the Federation of Euro-Asian Stock Exchanges. The exchanges included are Abu Dhabi (UAE), Amman (Jordan), Bahrain (Kingdom of Bahrain), Belgrade (Serbia), Bulgaria (Bulgaria), Istanbul (Turkey), Karachi (Pakistan), Macedonia (Republic of Macedonia), Muscat (Oman), and Zagreb (Croatia).

KARACHI: The Karachi stock market closed lower on Tuesday as investors continued to offload their holdings. The market remained bearish despite positive developments such as confirmation by Federal Board of Revenue (FBR) and finance authorities that no new taxes will be imposed on the share business in the upcoming budget and positive developments on Swat operation, which failed to inspire investors. The Karachi Stock Exchange (KSE) 100-share index decreased by 85.23 points or 1.18 percent to close at 7,125.11 points as compared to 7,210.34 points in the previous session. The KSE 30-share index shed 104.41 points and closed at 7,671.92 points compared with 7,776.33 points. The KMI 30 index declined by 71.16 points to close at 10,420.77 points as against 10,491.93 points. Analysts said that the turnover was poor in the market as investors seemed uninspired to take active part in trading activities. The market turnover went down by 26.06 percent and traded 83.51 million shares as compare...