* 100-share index sheds 11.52 points n 30-share index loses 22.38 points
KARACHI: The Karachi stock market closed lower on the last day of the trading week Friday as investors preferred profit-taking.
The Karachi Stock Exchange (KSE) 100-share index shed 11.52 points or 0.16 percent to close at 7,276.61 points as compared to 7,288.13 points of the previous session. The KSE 30-share index lost 22.38 points and closed at 7,862.85 points as compared with 7,885.23 points. The KMI 30 index also decreased by 48.70 points to close at 10,609.34 points as against 10,658.04 points.
Analysts said that other major issues that affected market sentiment included fall in international equity markets and security concerns in the country. The market turnover went up by 21.99 percent and traded 188.83 million shares as compared to previous session’s 154.78 million shares. The overall market capitalisation declined by 0.13 percent and closed at Rs 2.156 trillion as compared to Rs 2.159 trillion traded in the previous session. Out of total 293 companies, 135 closed in positive zone, 141 in negative, while 17 remained unchanged.
“After remaining in positive zone throughout the day, equity prices corrected itself in the last hour of trading as investors preferred to square their positions ahead of the weekend,” said analyst at TopLine Securities Mohammad Sohail. “Rising volumes suggest that the current positive sentiments will continue.” “Reason for negative index includes IMF’s concern over rising inflation and delay in approval of third tranche of $850 million for Pakistan on non-settlement of key budget issues,” said analyst at Shahzad Chamdia Sec Ahsan Mehanti. The KSE 100 index opened in the green zone with a gain of 48.48 points and at the end of the day closed at 7,276.61 points with a loss of 11.52 points.
Jah Siddi and Co was the volume leader in the share market with 24.33 million shares as it closed at Rs 29.34 after opening at Rs 28.09 making a financial gain of Rs 1.25. Arif Habib Sec traded 13.61 million shares as it closed at Rs 33.21 from its opening at Rs 32.80 gaining 41 paisas. DGK Cement traded 11.21 million shares as it closed at Rs 26.70 as against its opening at Rs 26.59 gaining 11 paisas. Pak Petroleum Ltd traded 7.32 million shares as it closed at Rs 178.93 as compared to its opening at Rs 178.11 making a financial gain of 82 paisas. OGDC traded 7.10 million shares as it closed at Rs 78.15 as compared with its opening at Rs 79.11 shedding 96 paisas. (DT report)
KARACHI: The Karachi stock market closed lower on the last day of the trading week Friday as investors preferred profit-taking.
The Karachi Stock Exchange (KSE) 100-share index shed 11.52 points or 0.16 percent to close at 7,276.61 points as compared to 7,288.13 points of the previous session. The KSE 30-share index lost 22.38 points and closed at 7,862.85 points as compared with 7,885.23 points. The KMI 30 index also decreased by 48.70 points to close at 10,609.34 points as against 10,658.04 points.
Analysts said that other major issues that affected market sentiment included fall in international equity markets and security concerns in the country. The market turnover went up by 21.99 percent and traded 188.83 million shares as compared to previous session’s 154.78 million shares. The overall market capitalisation declined by 0.13 percent and closed at Rs 2.156 trillion as compared to Rs 2.159 trillion traded in the previous session. Out of total 293 companies, 135 closed in positive zone, 141 in negative, while 17 remained unchanged.
“After remaining in positive zone throughout the day, equity prices corrected itself in the last hour of trading as investors preferred to square their positions ahead of the weekend,” said analyst at TopLine Securities Mohammad Sohail. “Rising volumes suggest that the current positive sentiments will continue.” “Reason for negative index includes IMF’s concern over rising inflation and delay in approval of third tranche of $850 million for Pakistan on non-settlement of key budget issues,” said analyst at Shahzad Chamdia Sec Ahsan Mehanti. The KSE 100 index opened in the green zone with a gain of 48.48 points and at the end of the day closed at 7,276.61 points with a loss of 11.52 points.
Jah Siddi and Co was the volume leader in the share market with 24.33 million shares as it closed at Rs 29.34 after opening at Rs 28.09 making a financial gain of Rs 1.25. Arif Habib Sec traded 13.61 million shares as it closed at Rs 33.21 from its opening at Rs 32.80 gaining 41 paisas. DGK Cement traded 11.21 million shares as it closed at Rs 26.70 as against its opening at Rs 26.59 gaining 11 paisas. Pak Petroleum Ltd traded 7.32 million shares as it closed at Rs 178.93 as compared to its opening at Rs 178.11 making a financial gain of 82 paisas. OGDC traded 7.10 million shares as it closed at Rs 78.15 as compared with its opening at Rs 79.11 shedding 96 paisas. (DT report)
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