News Column

KSE closes flat ahead of Eid holidays

July 25, 2014

Stocks closed flat amid higher trades ahead of Ramazan holidays this weekend. Sentiments remained positive on major earnings due after Eid. At KSE benchmark 100-share index added 9.32 points or 0.03 percent to end the trading at 30474.75 points compared to 30465.43 points of the previous day. KSE-Allshare index grew by 50.30 points or 0.23 percent to stop the session at 22365.87 points, KSE-30 index shed by 6.53 points or 0.03 percent to close the day at 21193.80 points while KMI-30 index misplaced 73.36 points or 0.15 percent to conclude the session at 49487.24 points.

Ahsan Mehanti analyst at Arif Habib Corp said Bestway Cement 76pc acquisition of Lafarge Cement, rising textile sector exports data following EU grant on GSP plus status and speculations in oil sector in corporate earnings season played a catalyst role in bullish sentiments at KSE despite below expected earnings of Fauji Fertilizer on low urea sales announced today impacting sector outlook. Market traded 218.186 million shares after opening at 131.080 million shares and the value of traded shares was climbed to Rs 11.262 billion from Rs 7.451 billion. The capitalisation of the market maintained at Rs 7.153 trillion compared to Rs 7.136 trillion of a day earlier.Trading took place 326 companies where 116 closed in positive and 188 in negative while the value of 22 stocks remained intact. Pak tobacco was the biggest price gainer of the day up by Rs 54.98 to Rs 1154.99 followed by Exide (PAK) XD up by Rs 24.87 to Rs 522.32. Rafahan Maize and Bata (Pak) were the top price losers of the day decreased by Rs 50 to Rs 11250 and Rs 43.40 to Rs 3472. Active list was topped by Lafarge Pak with 56.681 million shares as it closed at Rs 16.73 after opening at Rs 16.60. Maple Leaf cement was the second highest on the volume chart decreased by Rs 1.51 to Rs 32.14. It was followed by Fauj Cement with 14.485m shares off by Re 0.20 to Rs 20.85, DGK Cement with 12.603m shares shed by Re 0.92 to Rs 88.78 and Bank of Punjab with 6.215m shares down by Re 0.02 to Rs 9.18.

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Source: Nation (Pakistan)

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