ROUNDUP: KSE RETURNS TO BULLISH WAYS AMID RANGE-BOUND TRADE

ROUNDUP: KSE RETURNS TO BULLISH WAYS AMID RANGE-BOUND TRADE

ISLAMABAD, Aug 05, 2014 (Xinhua via COMTEX News Network) —

Pakistan’s Karachi Stock Exchange (KSE) gave away early gains but managed to close in green zone amid range-bound trading activities on Tuesday after Monday’s massive losses as investors stayed cautious amid confusion over the political situation in the country.

The benchmark KSE 100-Index swelled by 0.1 percent or 28.58 points to 29,676.41 points on Tuesday as against 26,647.83 points posted on Monday.

 

The KSE All Share Index gained 0.19 percent or 41.48 points to 21,851.51 points, the KSE 30-Index increased by 0.26 percent or 54. 28 points to 20,680.73 points, whereas the KMI 30-Index moved up by 0.15 percent or 70.69 points to 47,838.98 points.

During Tuesday’s trading session, the key index touched an intraday high of 29,851.24 points when compared with an intraday low of 29,620.60 points.

Pakistan Petroleum Limited remained active after announcing discovery in one of its fields while the index heavyweights Oil and Gas Development Company and Allied Bank Limited announced better earnings and payouts whereas Engro Foods (EFOODS) earnings were below expectation.

Market volumes declined by 91.108 million shares to 132.767 million shares on Tuesday as against 223.875 million shares posted Monday, capitalization improved by 13.353 billion rupees (133.532 million U.S.dollars) to 7.005 trillion rupees (70.056 billion dollars), whereas trading value depleted by 1.619 billion rupees ( 16.195 million dollars) to 7.784 billion rupees (77.848 million dollars).

Among 346 active scrips Tuesday, prices of 165 issues declined, 151 advanced, whereas values of 30 other companies stayed unchanged.

Askari Bank, Lafarge Pakistan Limited, and Engro Fertilizer Limited were the top traded companies with turnovers of 16.762 million shares, 11.238 million shares, and 5.986 million shares, respectively.

Siemens Pakistan was the top price gainer with increment of 33. 99 rupees (33.99 U.S. cents) to 1,194 rupees (11.94 dollars) whereas Rafhan Maize was the major prices shedder with decrement of 552 rupees (5.52 dollars) to 11,149 rupees (111.49 dollars).