Benchmark index increases 0.20% to close at 43,829.08. PHOTO: AFP
KARACHI: Buying in the final half-hour helped the KSE-100 end marginally positive after a dull trading session saw the benchmark index oscillate between the red and green zone all throughout the day.
The KSE-100 surged 135 points as soon as trading began, hitting an intra-day high of 43,875 before profit-booking and lack of triggers meant investors opted to stay on the sidelines. After staying in the red, value buying in the final 30 minutes propelled the index into the green, helping it close near the 44,000 level.
At close, the benchmark KSE 100-share Index recorded an increase of 88.59 points or 0.20% to settle at 43,829.08.
Elixir Securities’ analyst Ali Raza said equities closed slightly positive after range-bound trading.
“Contrary to our expectations of a robust session, market traded dull and didn’t cheer the timely and peaceful culmination of Senate elections over the weekend; turnover in the wider market clocked in at just under $55 million, down 29% versus the 20-day average,” remarked Raza.
“As market struggled to find a clear direction all day, few select stocks namely Habib Bank (HBL PA +1.3%) and Lucky Cement (LUCK PA +1.3%) came to the rescue in late trading and added 65 points to the KSE-100 Index.
“Key highlights included Searle Pakistan (SEARL PA +1.1%) announcing a joint venture with a Belgium food supplement manufacturer and Tri-Pack Films (TRIPF PA +5%) announcing expansion worth $20 million for production of metallised films to cater export and local markets.
“[We] expect the market to remain trigger-hungry in the coming days. We see cement remaining in the limelight as investors look to get clues on retail prices, where any signs of further stability should bode well for the sector and market sentiment,” he added.
Overall, trading volumes decreased to 137 million shares compared with Friday’s tally of 230 million.
Shares of 359 companies were traded. At the end of the day, 170 stocks closed higher, 172 declined while 17 remained unchanged. The value of shares traded during the day was Rs5.9 billion.
Unity Foods was the volume leader with 10.2 million shares, gaining Rs1.25 to close at Rs26.27. It was followed by WorldCall Telecom with 9.1 million shares, gaining Rs0.03 to close at Rs2.51 and Agritech Limited with 8.1 million shares, gaining Rs0.13 to close at Rs8.79.
Foreign institutional investors were net sellers of Rs94 million during the trading session, according to data compiled by the National Clearing Company of Pakistan.
- Market watch: Cement sector shines as KSE-100 rises 271 points
Benchmark index increases 0.63% to close at 43,510.39
- Market watch: Oil and cement garner attention as KSE-100 gains 0.57%
Benchmark index increases 244.49 points to close at 43,239.45
- Market watch: Stock market snaps two-day losing streak
Benchmark KSE-100 Index rises 83.94 points to close at 42,994.96
- Lockdown gloom stifles FTSE: Market remains up 1.8% by 118 on 6,579 points as gains made on morning of Oxford jab rollout are lost amid fears UK is set for third national lockdown
- VN-Index misses 1,100-point landmark under high profit-taking pressure
- Top 10 events of the Vietnamese securities market in 2020
- Stock markets in 2021: A bumpy ride for investors?
- Shares advance on high demand, VN-Index nearing 1,100 points
- These are the best Samsung Galaxy Watch deals for January 2021
- Sensex gains 680 points, ends on record high at 48,788; Nifty ends above 14,340 points
- The best 65-inch Sony 4K TV deals is at Best Buy for Cyber Monday
- The most common Apple Watch problems and how to fix them
- Sensex rallies 689 pts to end at fresh high; Nifty tops 14,350
- Twenty ways marketing will change in 2021. Definitely, maybe.
- Large-cap stocks help VN-Index jump higher
- 'I've never seen anything like it': 2020 smashes records in global markets
- A look back at a year that rocked markets and the global economy
- Keeping Up With The Kardashians is OVER after 14 years : Kim shocks fans by announcing family has made 'difficult decision' to end reality show after 20th season
- FTSE 100 soars to its highest level before lockdown in March: Stock market rises 2.6% and is up 168 points to 6,670 in first day of trading since post-Brexit trade deal was agreed
- FTSE 100 records best month since 1989 after Covid vaccine hopes
- Tesla is surging. Is it too late for investors to get in?
- Bitcoin's rally could be a sign of what's in store for markets in 2021
- Markets end lower amid weak global cues
Market watch: Late buying helps KSE-100 end with 89-point gain have 722 words, post on tribune.com.pk at March 5, 2018. This is cached page on Talk Vietnam. If you want remove this page, please contact us.