FP Staff Report
KARACHI: After witnessing a couple of bullish session, bear took control of the Karachi Stock Exchange (KSE) on Wednesday's session in which KSE 100 Index depreciated by 2.05 points to close at 9784.98 points in Sow share turnover of 127.835 million.
Commenting on market activities, dealers said that the stock exchange witnessed mixed trend after a few bullish sessions as KSE-100 Index declined marginally by 0.02 percent.
Investors opted for profit taking on Wednesday after the bull-run seen by the share market in the past few days. However, buying in cement and banking sectors stopped the market from a steep slide.
The benchmark KSE 100 Index commenced from its previous level of 9787.03 points and closed with net negative change of 2.05 points or 0.02 percent at 9784.98 points. During midday, the index went up to 9842.72 points and down to 9767.57 points.
KSE 30 Index appreciated by 3.77 points or 0.04 percent to close at 10261.61 points; KSE All Shares Index declined by 1.35 points or 0.02 percent to close at 6913.02 points; and KMI 30 Index ascended by 48.78 points or 0.33 percent to close at 14732.04 points.
Unilever Pakistan and Bata were top price advancers of the session as Unilever Pakistan improved by Rs141.81 to close at Rs2978.17 while Bata appreciated by Rs15.00 to close at Rs740.00.
Wyeth Pakistan and Pak Services were top price losers of the session as Wyeth Pakistan declined by Rs8.00 to close at Rs951.00 while Pak Services depreciated by Rs5.90 to close at Rs112.60.
The list of five most active companies reflecting significant turnover displayed Lotte Pakistan on top, followed by D. G. Khan Cement, National Bank Pakistan, Lucky Cement, and Jahangir Siddiqui Company with share turnover of 19.328 million, 10.373 million, 9.157 million, 6.363 million, and 6.147 million respectively.
Lotte Pakistan declined by Rs0.36 to close at Rs10.93; D. G. Khan Cement improved by Rs1.47 to close at Rs32.55; National Bank of Pakistan appreciated by Rs0.84 to close at Rs95.31; Lucky Cement escalated by Rs1.50 to close at Rs76.57; and Jahangir Siddiqui Company crashed by Rs0.47 to close at Rs23.85.
Share turnover declined by 84.885 million to close at 127.835 million as compared to 212.720 million shares of the previous session while market capital eroded by Rs4.154 billion to close at Rs2817.687 billion against Rs2821.841 billion.
The overall sentiment look stable and the index may undergo recovery in the days to come however, the political uncertainly along with deteriorating economic indicators pose threat to the bull-run.