With year-end right around the corner, participation remained dull at the bourse. The benchmark index rose by mere 3 points to close at 25370.03 level compared to 25366.69 points of the previous day. Equity dealer at Topline Securities Asad Siddiqui said positive momentum continued in the cement sector and specially in FCCL, out of 17 listed stocks in the sector 12 closed in the green zone while one remained unchanged.  On the other hand, profit-taking was seen in oil and gas sector while some pressure was seen in fertilizer stocks barring Engro, which closed with gains of 3pc. FCCL, PTC and PAEL made up for the top 3 volume leaders with trade of 16.7m, 10.2m and 9.7m shares, respectively. KSE-Allshare index shed by 30.02 points or 0.16 percent to end the day at 18690.70 points, KSE-30 share index off by 8.19 points or 0.04 percent to close the day at 18941.99 points while KMI-30 share index misplaced 69.59 points or 0.16 percent to end the day at 42739.21 points.   T...

The Karachi stock market on the last trading day of the week Friday made an intraday high of 25,000 points for the first time in the history of Pakistan and closed below the said level with a rise of 70 points. Analysts cited hopes for improved Indo-Pak bilateral relations and interest of international investors in setting up power plants in Pakistan as the main reasons for the positive trend. The Karachi Stock Exchange (KSE) 100-share index gained 69.86 points or 0.28 percent to close at 24,870.55 points as compared to previous session’s 24,800.69 points. The KSE 30-share index rose 10.48 points to close at 18,624.99 points as against 18,614.514 points.   “After testing the psychological level of 25,000 points the index was seen scaling back to close at 24,870 points,” said Habib Metropolitan Financial Services’ Muhammad Sultan. “During the second session the index pared gains posted earlier in the day, largely driven by profit-taking by risk averse investor...

Karachi Stocks closed record high led by second and third tier stocks on strong valuations. Sentiments remained bullish ahead of quarter-end earning announcements due next week. The Karachi stock market benchmark KSE-100 share index added 22.59 points or 0.12 percent to end the day at 18,636.03 points compared to 18,613.44 points of the previous day.  Stock analyst Ahsan Mehanti said consolidation in blue chips stocks continued amid concerns for fall in global commodities. Strong data on urea, DAP and cement sales for Mar ‘13, speculations ahead of upcoming SBP policy announcement and expectations of higher LDI revenues for telecom sector played a catalyst role in higher close at KSE amid concerns for rising circular debt issues in energy sector outcome for CCP levy on fertilizer companies on collusion and increasing urea prices. KSE-Allshare index up by 10.56 points or 0.08 percent to end the day at 13,209.70 points, KSE-30 share index increased by 25.38 points or 0.17 ...

The Karachi stock market finally managed to close above the psychological level of 17,000 points on Thursday due to heavy buying driven by good corporate results. The Karachi Stock Exchange (KSE) 100-share index gained 147.69 points or 0.87 percent to close at 17,056.36 points as compared to 16,908.67 points of the previous session. The KSE 30-share index increased 125.28 points to close at 13,931.66 points as compared with 13,806.38 points of the previous session.   “Finally the market managed to close above 17,000 points level,” said Topline Sec dealer Samar Iqbal. “Institutional buying and good corporate results helped the equity prices to improve by approximately 1.0 percent.” Higher than expected earning announcement by Engro Foods helped the market sentiment, she said and added that second-tier cement stocks performed well as investors are expecting healthy profits for the quarter ending in December.   The market turnover went up by 24.38 percent and...

The Karachi stock market closed in the negative zone as investors fretted over continued implementation of capital gains tax (CGT) on certain investments and offloaded their holdings. The Karachi Stock Exchange (KSE) 100-share index declined 20.79 points or 0.17 percent to close at 12,317.15 points as compared to 12,337.94 points of the previous session. The KSE 30-share index also lost 28.93 points to close at 11,778.40 points as compared with 11,807.33 points. Analysts said other reasons for the downtrend included, fall in global capital markets and declining value of oil in the international market. Investors preferred to stay to the sidelines owing to lack of positive triggers. The market turnover went slightly up by 1.16 percent to 54.80 million shares after opening at 54.17 million shares. The overall market capitalisation fell 0.15 percent to Rs 3.256 trillion as against Rs 3.261 trillion. Losers outnumbered gainers 154 to 97, while 104 stocks were unchanged. "Amid global s...

First trading day at the Karachi Stock market was marked by prevalence of bearish activity on rising political uncertainty after government coalition partner MQM decided to boycott sessions of National & Sindh Assembly. Analysts said in their comments that range bound activities dominated market proceedings with index failing to maintain 12,000 pts level during the session. The Karachi Stock Exchange (KSE) 100-share index shed 25.48 pts or 0.21 percent closing at 11, 974.55 pts compared to 12,000.03 pts in the previous session. The KSE -30 index also shed 26.26 pts closing at 11,690.41 compared to 11,716.67 pts of the previous session. KMI-30 index shed 78.18 pts and closed at 19,813.83 pts compared o 19,892.01 of the previous session. The KSE- all shares index closed with a loss of 17.97 pts closing at 8,311.52 compared to 8,329.49 pts of the previous session. The market turnover went down by 37.62 percent and traded 116.94 million shares compared to 187.49 million shares of the p...

The Karachi stock market closed at more than a 30-month high Thursday on strong valuations in the scrips of oil and gas and fertilizer sectors across the board, ahead of earnings announcement session. Bullish sentiments continued to hit retail and institutional investors in an anticipation of early approval of leverage products by the Security and Exchange Commission of Pakistan. The Karachi Stock Exchange’s benchmark 100-share index ended 1.50 percent, or 182.63 points, up at 12,323.47, its highest close since June 2008. The index had closed at 12,140.84 on Wednesday. Volumes stood at 144.29 million shares against 168.22 million shares of Wednesday. Market capitalization amounted to Rs3, 336.28 billion or $38.89 billion. Ready market value accounted for Rs7.91 billion or $92.17 million. The KSE 30-index surged by 1.46 per cent or 171.15 points to close at the level of 11,888.43. KSE future volume came at 7.83 million shares while value stood at Rs1, 189.35 million with 1.12 per cent f...

The Karachi stock market crossed the psychological level of 12,000 points on Thursday on support from foreign interest in blue chips. Foreign interest was witnessed in oil and gas, bank and fertilizer scrips. The Karachi Stock Exchange (KSE) 100-share index gained 145.44 points or 1.22 percent to close at 12,031.46 points as compared to 11,886.02 points of the previous session. The KSE 30-share index also rose 141.70 points to close at 11,588.97 points as compared with 11,447.27 points. “Bullish activity was witnessed in scrips across-the-board on strong foreign interest in oil and gas, bank and fertilizer scrips,” said Arif Habib Investment Ltd Director Ahsan Mehanti. “Higher banking sector spreads, international oil prices over $91 and expectations of strong result announcements played a catalyst role in the positive activity at KSE despite concerns over rising political uncertainty.” The market turnover went up by 40.33 percent to 140.04 million shares after opening at 99.79 million...

Hectic buying improved values of leading and second tier scrips at Karachi Stock Exchange (KSE) Wednesday as 100 Index climbed by 113.45 points to close at 11,786.09, dealers said. Nadeem Chawla, a dealer at a leading brokerage house said that the market was bullish since morning and at one point of time Index crossed 11,800 level on buying spree. However, some profit taking trimmed values and Index slipped to 11,700 level at the close, he added. However, the turnover volume was low at 120.129 million shares as 187 scrips advanced while 199 sustained losses and 18 remained unchanged. The market capitalization was improved by about Rs 28.2 billion to Rs 3,204 trillion. Lotte Pak remained the volume leader with a turnover of 11.192 million shares followed by WorldCall 6.451 million shares, NBP 5.923 million shares, Azgard Nine 5.393 million shares and Jahangir Siddiqui 5.216 million shares. Lotte Pak closed at 13.17, Engro Corp 194.20, Jahangir Siddiqui 11.59, NBP 70.76 and Pak Oilfields...

The Karachi Stock Exchange ( KSE ), which gained 146.93 points last week, lost 149.07 points this week and closed at 9,774.07 points; failing to achieve 10,000 psychological level despite touching it twice this week amid uncertainty over the implications of the detailed verdict on NRO . The average turnover remained 207.882 million shares as compared to 157.020 million shares of the previous week; up 50.862 million shares. On the other hand, the KSE 30-index also lost 188 points and closed at 10285.97 as compared to 202.27 points gain in previous week. Bears overwhelmed the market for three days while bulls dominated the equity for two days only. The bourse started business on Monday with negative note when KSE 100-index shed around 28 points. On Wednesday and Thursday, market also lost heavily as KSE shed 50, 151 points respectively. Local investors opted for panic selling on Thursday on renewed concerns over judiciary action after NRO detailed judgement. Though, bourse lost almost...

The Karachi Stock Exchange ( KSE ) continued the upward march on the last trading day of the week as benchmark-100 index crossed 9,900 points level after a gap of 17 months. The local equity market kicked-off the day in green zone and the trend lasted till the closing. KSE-100 index touched intraday highest level of 9,969 points during the session. Foreign players remained bullish in energy and banking stocks while local investors also preferred buying ahead of December result announcements on expectation of record results for banks, fertilizer and oil/gas sectors. Stocks ended 121 points above at 9,923 points. Market turnover inched up to 204 million shares while PTCL was witnessed as the volume leader, up Rs0.71/share to close at Rs20.20.