ahlam1399
07-01-2016, 03:47 AM
Investors booked profits in recent outperformers in a lackluster trade on Thursday -- the last day of the outgoing financial year 2015/16, dealers said, leaving stocks almost flat.
Analyst Ahsan Mehanti at Arif Habib Corp said stocks closed flat as institutions booked gains at the yearend close.
“Mutual fund redemptions and falling risk appetite ahead of Eid holidays played a catalyst role in bearish close, ig**ring the bullish sentiments at the global stocks,” Mehanti said.
The Pakistan Stock Exchange’s (PSX) benchmark 100-share Index ended flat with a decline of 0.01 percent, or 3.03 points, to close at 37,783.54 points.
The highest index of the day remained at 37,993.53 points, while the lowest level of the day was recorded at 37,729.35 points.
The KSE 30-share Index shed 0.01 percent, 2.21 points to close at 21,653.02 points.
Tur**ver fell 19 million shares to 115.30 million shares.
Trading value decreased to Rs7.39 billion as against Rs8.06 billion and the market capital, with ** change, was recorded at Rs7.58 trillion.
Of a total of 337 companies, 166 closed up, 150 ended down and 21 remained neutral.
A report of Global Research said local bourse witnessed a volatile session as the index remained directionless throughout the day, moving within a band of 264 points.
Illiquid Feroze 1888 (down five percent) alone dragged the index down 59 points whereas exploration and production (E&P) also took away 44 points after the international oil prices started to decline after finding resistance around the $50/barrel level.
Lucky Cement (up 1.89 percent), Dawood Hercules (1.78 percent) and Habib Bank Limited (0.63 percent) supported the index by a cumulative 61 points.
“We expect the market to remain dull owing to lower activity from financial institutions ahead of Eid holidays,” said the Global Research.
Highest increase was recorded in shares of Bata (Pak) by Rs77.33 to Rs4,077.33/share followed by Pak ******* that increased Rs57.22 to Rs1,260.55/share.
Major decrease was recorded in shares of Rafhan Maize by Rs380 to Rs7,220/share followed by Nestle Pakistan-XD that fell Rs200 to Rs7,300/share.
Significant tur**ver was recorded in stocks of K-Electric Limited, Sui **rthern Gas Pipelines Limited, TRG Pakistan Limited, Byco Petroleum, Silk Bank Limited, Dewan Cement, Fatima Fertilizers, Engro Corporation, Engro Fertilizers and NIB Bank Limited.
K-Electric Ltd remained the volume leader with 22.06 million shares with a drop of three paisas to Rs8.06/share. It was followed by Sui **rthern Gas Pipelines Limited with 8.05 million shares with ** change in the price at Rs36.29/share.
Shares’ tur**ver in the future contracts decreased to 25.65 million shares from 31.04 million shares traded in the previous session.
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Analyst Ahsan Mehanti at Arif Habib Corp said stocks closed flat as institutions booked gains at the yearend close.
“Mutual fund redemptions and falling risk appetite ahead of Eid holidays played a catalyst role in bearish close, ig**ring the bullish sentiments at the global stocks,” Mehanti said.
The Pakistan Stock Exchange’s (PSX) benchmark 100-share Index ended flat with a decline of 0.01 percent, or 3.03 points, to close at 37,783.54 points.
The highest index of the day remained at 37,993.53 points, while the lowest level of the day was recorded at 37,729.35 points.
The KSE 30-share Index shed 0.01 percent, 2.21 points to close at 21,653.02 points.
Tur**ver fell 19 million shares to 115.30 million shares.
Trading value decreased to Rs7.39 billion as against Rs8.06 billion and the market capital, with ** change, was recorded at Rs7.58 trillion.
Of a total of 337 companies, 166 closed up, 150 ended down and 21 remained neutral.
A report of Global Research said local bourse witnessed a volatile session as the index remained directionless throughout the day, moving within a band of 264 points.
Illiquid Feroze 1888 (down five percent) alone dragged the index down 59 points whereas exploration and production (E&P) also took away 44 points after the international oil prices started to decline after finding resistance around the $50/barrel level.
Lucky Cement (up 1.89 percent), Dawood Hercules (1.78 percent) and Habib Bank Limited (0.63 percent) supported the index by a cumulative 61 points.
“We expect the market to remain dull owing to lower activity from financial institutions ahead of Eid holidays,” said the Global Research.
Highest increase was recorded in shares of Bata (Pak) by Rs77.33 to Rs4,077.33/share followed by Pak ******* that increased Rs57.22 to Rs1,260.55/share.
Major decrease was recorded in shares of Rafhan Maize by Rs380 to Rs7,220/share followed by Nestle Pakistan-XD that fell Rs200 to Rs7,300/share.
Significant tur**ver was recorded in stocks of K-Electric Limited, Sui **rthern Gas Pipelines Limited, TRG Pakistan Limited, Byco Petroleum, Silk Bank Limited, Dewan Cement, Fatima Fertilizers, Engro Corporation, Engro Fertilizers and NIB Bank Limited.
K-Electric Ltd remained the volume leader with 22.06 million shares with a drop of three paisas to Rs8.06/share. It was followed by Sui **rthern Gas Pipelines Limited with 8.05 million shares with ** change in the price at Rs36.29/share.
Shares’ tur**ver in the future contracts decreased to 25.65 million shares from 31.04 million shares traded in the previous session.
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