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Roundup: PSO, textiles lead KSE higher amid lackluster trade

Xinhua, November 3, 2015 Adjust font size:

Pakistan's Karachi Stock Exchange (KSE) returned to bullish ways after news regarding Pakistan State Oil and textile polices excited investors but overall market participation stayed on the lower side amid lack of interest by local participants.

The benchmark KSE 100-Index increased by 0.15 percent or 49.63 points to 34,275.75 points on Tuesday when compared with 34,226.12 points reported on Monday.

The KSE All Share Index gained 0.3 percent or 70.77 points to 23,931.96 points, whereas the KMI 30-Index inched up marginally by 0.02 percent or 4.20 points to 57,475.67 points.

During Tuesday's trading session, the key index moved in a thin band of 106.43 points as it hit an intraday high of 34,332.55 points as against an intraday low of 34,226.12 points.

Pakistan State Oil (PSO) closed higher by 1.43 percent after news emerged that it has notified price for nine RLNG consignments at 10.1 U.S. dollars per mmbtu.

Another news regarding government's initiative to increase export and address textile sector's concerns helped textile stocks like Nishat Mills Limited (NML), Nishat Chunian Limited (NCL) and Kohinoor Textile Mills Limited (KTML) to gain 0.15 percent, 1.96 percent and 1.63 percent, respectively.

Market volumes improved slightly by 1.19 percent or 1.458 million shares to 123.980 million shares on Tuesday when compared with 122.521 million shares posted on Monday.

Market capitalization augmented by 0.29 percent or 21.378 billion rupees (209.591 million dollars) to 7.280 trillion rupees (71.375 billion dollars) while trade value swelled by 1.38 percent or 79.126 million rupees (775,751 dollars) to 5.808 billion rupees (56.942 million dollars).

Among 359 active scrips on Tuesday, prices of 174 issues declined, 164 advanced, whereas values of 21 other companies stayed unchanged.

TRG Pakistan Limited, Karachi Electric Limited, and Jahangir Siddiqui Company Limited were the top traded companies with turnovers of 13.793 million shares, 12.222 million shares, and 11.204 million shares, respectively.

Nestle Pakistan XD led the major price gainers with increment of 124.75 rupees (1.22 dollars) to 9,300 rupees (91.17 dollars) while on the flip side Unilever Foods led the major price shedders with decrement of 170 rupees (1.66 dollars) to 6,950 rupees (68.13 dollars). Enditem