Saturday, November 15, 2008

Stock market again on flat mode with meek volume

Business resumed on the last day of business week Friday in Karachi Stock Exchange (KSE) with some activity but remained limited, flat and dry. Though Thursday business registered a change in KSE-100 which gained 0.95 points but Friday business witnessed no change and it was closed at 9,184.09. It seemed that liquidity shortage and floor mechanism is still haunting the already flat and dull market as investors and brokers preferred to sit aside. National Assets was the scrip which led the market volumewise.Total 44 scrips traded in the bourse in which five companies recorded gains while the same quantity of five scrips sustained losses and 14 remained unchanged. The turnover at the local bourse witnessed downward trend as total trading volume remained at 57,920 shares as compared to 66,600 shares on Thursday.The highest trading on Friday was seen in the scrip of National Assets which gained Re 0.08 closed at Re 0.50 with volume of 14,500 shares followed by Mukhtar Textile which also gained a meagre value of Re 0.01 closed at Re 0.54 with volume of 11,000 shares.Nimir Resin remained unchanged closed at Rs 5.05 with volume of 10,000 shares. Gharibwal Cement which shed its value to Re 0.37 on Thursday business again shed its value to Re 0.51 closed at Rs 16.11 with volume of 4,000 shares while Haydery Construction also witnessed decrease value of Re 0.02 closed at Rs 1.03 with volume of 5,500 shares.

Tri Star Power and NIB Bank remained unchanged closed at Rs 1.64 and Rs 8.45 with volume of 3,000 and 1,000 shares respectively.Whereas Mirza Sugar and Habib ADM gained value to Re 0.04 and Re 0.52 closed at Rs 1.85 and Rs 10.20 respectively with volumes of 1,000 each share. Esat West Life and PSO also remained unchanged closed at Rs 7.00 and Rs 267.49 respectively with volumes of 1,000 shares. Sitara Energy lost its value of Re 0.61 closed at Rs 19.75 with volume of 500 shares. Silver Star Insurance, Trust Modaraba, National Foods and JA textile remained unchanged closed at Rs 14.70, Rs 1.35, Rs 66.12 and Rs 8.20 respectively with volumes of 500 each shares.However, UDL Mod remained unlucky which shed its value of Re 0.25 closed at Rs 3.05 with volume of 500 shares. Crescent Sugar, however, gained Rs 1.00 closed at Rs 9.55 with volume of 500 shares. Redco Tex and Bank Al-Habib remained unchanged closed at Rs 1.00 and Rs 34.14 with volumes of 500 and 300 shares respectively.While Pak Datacom witness declined to Rs 2.00 closed at Rs 46.00 with volume of 200 shares. Rest of the scrips like Netsol Technol, Habib Metro Bank and Uniliver Pakistan remained unchanged traded less than 200 shares.Meanwhile, the KSE-30 index remained unchanged and closed at 9981.93 points and KMI-30 index with no change closed at 11224.18 points.While, Lahore Stock market witnessed upward trend as LSE-25 index gained its value to 5.39 points and closed at 2825.36 points.Total turn over however remained at 500 shares. In all the 83 companies transacted on the day, no scrip could move up and no scrip moved down and rates of all other scrips remained unchanged. PIAA remained unchanged closed at Rs 3.51 with volume of 500 shares.

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