KARACHI - The bourse witnessed yet another range bound session with better than expected corporate results providing late session stimulus to the market and after mild correction in yesterday’s session, the benchmark index closed in the green zone, 17 points higher at 11,933.
The KSE-100 index closed at 11,933.46 with a gain of 17.44 points and total volume stood at 87,556,302 with the total value of 2,363,338,989. KSE-30 gained 44.85 points to close at 11,599.88 and All Share index closed at 8,323.07 after gaining 11.39 points. A total of 137 scrips advanced, 151 declined and 77 were unchanged out of a total of 365 scrips traded.
Market capitalisation rose by 0.15 percent as KSE-100 closed at 11,933 with 110 million shares traded during the day. Healthy earnings for 1QCY11 by LOTPTA landed the scrip on top of the volume leader’s board while HUBC, FFBL and DGKC were also amongst the leaders with positive closing. Higher than expected earnings by MCB also buoyed investor interest in the scrip and subsequently outperformed the benchmark. Fertiliser sector also drew a strong response as FFC, FFBL and Engro gained ground. Volumes improved to 110 million shares with LOTPTA contributing 54 percent to the total traded volumes. The stock closed 6.3 percent up, after it announced record 1Q2011 profits. MCB also closed two percent up after announcing strong 1Q2011 results.
KSE Market Capitalisation was Rs 3,173.66 billion ($37.47 billion), KSE Future Volum stood at 1.29 million shares along with the KSE Future Value of Rs 114.16 million. KSE Future Spread stood at 4.76 percent. Top gainers in today’s session were Lotte Pakistan PTA Ltd, Clariant Pakistan Limited, Pakistan Tobacco Co Ltd, Murree Brewery Company Ltd, Standard Chartered Bank, Colgate Palmolive (Pakistan) Ltd, and Pak Reinsurance Co while top losers included Media Times Ltd, Agritech Limited, Siemens Pakistan Engineering Co Ltd, Pakistan International Airlines, Grays of Cambridge (Pakistan) Ltd, and Karachi Electric Supply Company Ltd The market is likely to remain buoyant with minor hiccups as result season surprises keep adding towards bullish momentum said Salman Vidhani, Senior Investment Analyst at Habib Metropolitan Financial Services Ltd (HMFS).