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Wednesday, 13 March 2013


Karachi Stocks Down  112.41 Points:
KARACHI, Mar 13: At the close of trading, the KSE-100 index was at 17,760.44, Down 112.41 points.
 (Today Market is 66.46 Up@ 10.45 am)

March 13, 2013

Nestle Pak
Rs 250.00
Indus Motor
Rs (12.89)
Philip Morris
Rs 9.97
Exide Pak
Rs (11.40)
Millat Tractors
Rs 6.08
Indus Dyeing
Rs (10.01)
Sunrays Textile
Rs 6.00
Tri-Pack Films
Rs (9.30)
Abbot Lab
Rs 4.50
Pak Oilfields
Rs (4.16)
KSE 100-index sheds 112 points
KARACHI, March 13: Encouraged by the Tuesday’s grand recovery of almost all the losses suffered the earlier day and the fact that foreigners seemed bullish from the Tuesday’s ‘net buy’, investors at the stock market on Wednesday started out on the positive footing with popular shares gaining value to carry KSE-100 index in the deep green. Yet at around mid-day, selling ensued, pulling the prices down and pushing the stocks in the negative.
In the final hours, bulls made frantic efforts to overpower the bears, but in vain.
With the heavy-weight energy stocks pegged at lower prices and OGDC losing Rs3.43, which contributed around 70 points to the aggregate loss of 112.41 points or 0.63 per cent with the KSE-100 index closing at 17,760.44 points on Wednesday.
Traders said that local individual and institutional investors were at the edge of their nerves, unable to fathom whether there was a clear risk of sanctions by the US, which was quite unhappy with Pakistan’s decision to ignore its warnings and go ahead with the Iran-Pakistan gas pipeline.
In such an uncertain state, investors watched for every word on the issue coming out of the White House. On the home front, no notice from Engro Corporation at the KSE to explain whether the ECC had granted the low-priced gas supply to Engro’s Enven plant, sent the stock price reeling down.
The overall decline in volume of trade showed that retail investors, day traders and punters, who generate much of day’s turnover, stayed on the sidelines. The market traded in a broad range as it made an intraday high at 17,912.66 points and an intraday low at 17,716.53 points.
Foreign investors, who generally are in the market for long term, bought shares worth $3.94 million on Wednesday, which was more than twice the net foreign buy of $1.58 million the earlier day.
Turnover fell to 180.01 million shares, compared with 211.07 million shares traded on Tuesday. However trading value increased to Rs8.14bn from Rs6.85 billion the previous day and market capitalisation was almost flat at Rs4.40 trillion compared with Rs4.44 trillion on Tuesday.
“Engro Corp fell by Rs5.95 and Engro Foods decline by Rs3.64. Some interest was seen in Lafarge Cement ahead of its board meeting to announce December results,” said Samar Iqbal at Topline Securities Ltd.
The energy sector also witnessed profit-taking besides the big fall in OGDC, Pakistan Oilfields closed down Rs4.16 to Rs458.02 and Pakistan Petroleum Ltd shed Rs1.17 to Rs174.82.
In all 322 shares came up for trading on Wednesday with 192 stocks losing value against 104 gainers and 26 shares closing at their previous level.
The two biggest winners for the day were Nestle Pakistan with its share price up by Rs250 to Rs5,250, followed by Philip Morris Pak higher by Rs9.97 to Rs214.82. On the other hand, Indus Motor Co declined by Rs12.89 to Rs312.11 and Exide Pakistan gave up Rs11.40 to Rs330.
In the top-10 traded scrips, Engro fell Rs3.90 to Rs124.75 on turnover of 25.13 million shares, Pakistan Telecommunication Co Ltd shed 63 paisa to Rs20.45 on 24.27 million shares but Lafarge Pakistan gained 6 paisa to Rs6.20 on 12.12 million shares.
Telecard Ltd ended 20 paisa lower at Rs5.96 on 9.4 million shares, Lotte PakPTA gained 7 paisa to Rs7.49 on 8.43 million shares, Jahangir Siddiqui Co Ltd ended 54 paisa lower at Rs13.68 on 6.78 million shares and Nishat Mills Ltd closed 60 paisa lower at Rs77.46 on 6.59 million shares.
DG Khan Cement fell 72 paisa to Rs62.52 on 5.98 million shares, Fauji Cement shed 19 paisa to Rs7.96 on 5.82 million shares and NIB Bank Ltd ended 6 paisa lower at Rs2.17 on 4.7 million shares.
KSE sheds 112 points to close at 17760: KARACHI: The Karachi Stock Exchange's (KSE) benchmark 100-share index on Wednesday closed 112.41 points down at 17,760.44, after investors off loaded their positions in a variety of stocks.
 Major selling was witnessed at the counter of market heavyweight Engro Corporation, as uncertainty prevailed in connection with the price at which the company would buy gas from the government.
 Foods and Fertilizer Engro Corporation was today's biggest loser whose price dropped to Rs122.70 per share while Lafarge Pak Cement led the gainers as it closed at Rs6.16 a share.


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