News Column

KSE gains 63 points on rising cement exports

July 24, 2014

Stocks closed higher in the earnings announcements session at KSE led by oil and fertilizer sector stocks on strong earnings outlook.

At local equity market benchmark KSE-100 share index posted a fresh gain of 63.34 points or 0.21 percent to end the day at 30465.43 points compared to 30402.09 points of the previous day.

Renewed foreign interest, expectations for favourable announcements on revised GIDC levy in fertilizer sector, rising cement exports and higher international oil prices played a catalyst role in bullish sentiments at KSE. Above expected earnings in banking and auto sector impacted the sentiments positively, analyst observed here.

KSE-Allshare index up by 33.76 points or 0.15 percent to stop the trading at 22315.57 points, KSE-30 index gained 19.07 points or 0.09 percent to close the trading at 21200.33 points while KMI-30 index grew by 40.72 points or 0.08 percent to conclude the session at 49560.60 points.

Trading took place in 326 companies where 139 closed in green and 169 in negative while the value of 18 stocks remained intact. Bata (Pak) and Shezan Inter were the biggest price gainers of the day up by Rs 167.40 to Rs 3515.40 and Rs 42.53 to Rs 1011.90. Wyeth Pak Ltd and Nestle Pak were the top price losers of the day decreased by Rs 167.61 to Rs 3765.85 and Rs 25 to Rs 7825.

Market traded 131.080 million shares after opening at 148.086 million shares and the value of traded shares jumped to Rs 7.451 billion from Rs 7.077 billion. The capitalisation of local bourse settled at Rs 7.136 trillion compared to Rs 7.121 trillion of a day earlier. Active list was topped by Fauji Cement with 10.378 million shares off by Re 0.10 to Rs 20.95. Lafarge Pak was the second highest on volume chart with 8.062 million shares shed by Re 0.33 to Rs 16.52. It was followed by Maple Leaf Cement with 7.055 million shares added Re 0.08 to Rs 33.38, Askari Bank with 6.615 million shares increased by Re 0.34 to Rs 22.04 and Pak. IntBulk with 6.525 million shares up by Re 0.55 to Rs 25.35.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Nation (Pakistan)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters