Karachi, May 19, 2015 (PPI-OT): Bearish spell continued at local bourse. Trading remained dull at local bourse
Bearish spell continued at local bourse. Trading remained dull at local bourse as the volume dried up, courtesy to lack of strong trigger coupled with uncertainty about the Budget for2015-16. Better result announcement and exciting future outlook kept auto sector in limelight.
At close, the Karachi Stock Exchange’s (KSE) benchmark 100-index down by 0.5% or 156 points to end at 32,729. Volumes at KSE-100 index clocked in at 58.5 million shares, down by 2.3%. Trading value at local bourse increased to Rs 4.3 billion against Rs 3.8 billion. The advance to decline ratio in the broader market remained in the favor of bears. Out of 320 scrips, 120 scrips advanced, 181 scrips declined while the value of 19 scrips remained unchanged.
Bearish sentiments prevailed at Karachi Stock Exchange. In Automobile
Assembler sector GHNL, DFML and HINO surged by 4.22%, 6.33% and 2.64% respectively, while GHNI hit the upper circuit. In Technology and Communication sector AVN, PTC, TRG decreased by 2.60%, 1.67% and 1.31% respectively. In Refinery sector ATRL and NRL dipped by 0.58% and 0.39%, while PRL and PRLR hit the upper limit. In Fertilizer sector ENGRO, DAHW and FFC shed by 1.60%, 1.08% and 0.97% respectively, while FATIMA and FFBL surged by 1.19% and 0.34%.
In volume chart, GAIL remained the volume leader with 16.58 million shares, closed at Rs 7.48 gained by Rs 0.96 followed by WTL with 13.12 million shares closed at Rs 1.60 by increasing Rs 0262. BYCO remained 3 the volume chart with 10.27 million shares and closed at Rs 14.00 by surging Rs 0.10.
Major trading activities witnessed in Automobile Assemblers sector as traded above 21.34 million shares followed by Technology and Communication sector with 20.49 million shares. Refinery sector parked at 3 14.20 million shares. Top gainers of the day were Indus Dyeing and Hinopak Motor with price change of Rs +38.41 and Rs +36.31 respectively. While top losers of the day were Service Ind. Ltd and Nestle Pak with the price change of Rs -36.95 and Rs -30.00 respectively.