Pakistani stocks swells amid political hullabaloo in Islamabad

GMT 01:28 2014 Thursday ,21 August

Arab Today, arab today Pakistani stocks swells amid political hullabaloo in Islamabad

Pakistani stocks
Islamabad - XINHUA

 Pakistani stocks returned to bullish ways on Wednesday amid political unrest in Islamabad as investors associated hopes of a peaceful resolution to the agitation while healthy financial results also helped in changing the mood at the Karachi Stock Exchange (KSE).
The benchmark KSE 100-Index swelled by 0.12 percent or 34.72 points to 28,664.84 points on Wednesday when compared with 28,630. 12 points posted Tuesday.
The KSE All Share Index inched up by 0.06 percent or 11.71 points to 20,934.82 points, the KSE 30-Index moved up slightly by 0.07 percent or 13.36 points to 19,987.35 points, whereas the KMI 30-Index gained 0.41 percent or 190.06 points to 46,728.76 points.
During Wednesday's trading session, the key index touched an intraday high of 28,894.67 points as against an intraday low of 28, 435.03 points.
Market remained mixed due to the ongoing uncertainty on political front due to protests in Islamabad.
Fauji Cement remained volume leader but its share price remained under pressure due to lower than expected result announcements.
Engro Corporation also made public below expectations June earnings and payout and recorded 1.45 percent decline in its share value.
Market volumes dipped by 3.711 million shares to 141.024 million shares on Wednesday as against 144.735 million shares posted on Tuesday, the capitalization improved by 3.549 billion rupees (35.496 million U.S. dollars) to 6.701 trillion rupees (67. 017 billion U.S. dollars), whereas trading value increased by 997. 520 million rupees (9.975 million U.S. dollars) to 7.261 billion rupees (72.616 million U.S. dollars).
Among 333 active scrips Wednesday, prices of 174 issues advanced, 136 declined, whereas values of 23 other companies stayed unchanged.
Fauji Cement, Bank of Punjab and Pak Elektron Limited were the top traded companies with turnovers of 14.73 million shares, 10.62 million shares and 8.25 million shares, respectively.
Rafhan Maize was the top price gainer with increment of 506 rupees (5.06 U.S. dollars) to 10,626 rupees (106.26 U.S. dollars) whereas Siemens Pakistan was the biggest price shedder with decrement of 53.13 rupees (53.13 U.S. cents) to 1,061.70 rupees ( 10.62 U.S. dollars).

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