Karachi, June 02, 2015 (PPI-OT): Market Summary
Bulls riding at local bourse continued on second day as well. Investors invested across the board amid better economic outlook, future prospectus of development in country relating to Pak China Economic Corridor and on expectations that budget will be investor friendly.
At close, the Karachi Stock Exchange’s (KSE) benchmark 100-index up by 1.0% or 331.96 points to end at 33,895. Volumes at KSE-100 index clocked in at 213.8 million shares, up by 22.8%. Trading value at local bourse increased to Rs 14.7 billion against Rs 10.5 billion. The advance to decline ratio in the broader market remained in the favour of bulls. Out of 369 scrips, 200 scrips advanced, 139 scrips declined while the value of 30 scrips remained unchanged.
Bullish sentiments prevailed at Karachi Stock Exchange. In Power Generation and Distribution sector EPQL, PKGP and SPWL surged by 0.83%, 3.21% and 0.64% respectively, while LPL shed by 1.50%. In Cement sector LUCK, MLCF, FECTC extended their scrip value by 2.77%, 1.74% and 2.83% accordingly, while FCCL decreased by 0.29%. In Commercial Banks sector BOP, BAFL, MCB and UBL increased by 2.26%, 1.29%, 4.88% and 3.51% respectively.
In volume chart, KEL remained the volume leader with 32.76 million shares, closed at Rs 8.04 gained by Rs 0.03 followed by PAEL with 20.22 million shares closed at Rs 69.13 by increasing Rs 0.28. GAIL remained 3rd in the volume chart with 16.48 million shares and closed at Rs 9.06 by gaining Rs 0.36.
Major trading activities witnessed in Power Generation and Distribution sector as traded above 52.65 million shares followed by Commercial Banks sector with 42.06 million shares. Cement sector parked at 3 rd place by trading above 35.95 million shares. Top gainers of the day were Wyeth Pak Ltd and Bata (Pak) with price change of Rs +113.00 and Rs +100.00 respectively. While top losers of the day were Island Textile and Pak Tobacco Inter with the price change of Rs -34.50 and Rs -20.00 respectively.