KSE gains 44 points in range-bound activity

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THE NATION, KARACHI, 24th SEPTEMBER 2013:- With volume of only Rs 4.4b market witnessed dull and ranged bound activity. With no major triggers in the coming days, investors preferred to stay sidelines.
At local equity market benchmark KSE-100 share index up by 44.36 points or 0.19 percent to stop the day 23639.97 points compared to 23595.61 points of the last working day on Friday.
Dealers said roll over of future contracts also caused investors to stay cautious. Telecom sector remained on investors’ radar as they are expecting better earnings after Government measures to curb grey trafficking. Tele Card witnessed 19pc of total volume after 28m shares exchanged hands. Oil stocks witnessed profit-taking while banking stocks kept rallying. MCB bank rallied 2pc and NBP also rose by 2.5pc, UBL also followed its peers after gaining by 1.7pc.
KSE-Allshare index increased by 7.88 points or 0.05 percent to stop the day at 16928.86 points, KSE-Allshare index higher by 48.16 points or 0.27 percent to close the day at 18120.57 points while KMI-30 share index shed by 13.92 points or 0.04 percent to finish the day at 39263.68 points.
Market traded 150.536 million shares on Monday after opening at 275.672 million shares and the value of traded shares was reduced to Rs 4.369 billion from Rs 9.934 billion. Capitalisation of the market maintained at Rs 5.542 trillion compared to Rs 5.542 trillion of the previous session.
Trading took place in 369 companies where gainers outnumbered the losers 173 to 165 while the value of 31 stocks remained intact. Wyeth Pak was the biggest price gainer of the day up by Rs 191.10 to Rs 4013.10 followed by Island Textile increased by Rs 46.50 to Rs 976.50. Unilever FoodXD and Colgate Palmolive XDXB were the top losers of the day decreased by Rs 119 to Rs 5000 and Rs 65 to Rs 1530.
Telecard Limited was the top traded company of the day with 28.256 million shares as it closed at Rs 6.30 after opening at Rs 5.69. WorldCall Telecom was on the second position with 10.586 million shares shed by Re 0.13 to Rs 2.95. It was followed by National Bank with 9.308 million shares extended by Rs 1.45 to Rs 56.06, Colony Mills Limited with 6.179 million shares extended by Re 0.39 to Rs 4.41 and Bank of Punjab with 5.030 million shares shed by Re 0.02 to Rs 12.73.

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