Profit-taking trims early gains at Pakistan's KSE

• Source: Xinhua
• [08:51 July 10 2009]
• Comments

Karachi Stock Exchange (KSE) showed mix trend in the first half on Thursday where profit taking trims early gains. Equities showed some activity banking on the Presidential Ordinance of increasing oil prices issued early in the morning.

Oil sector which were under pressure from last couple of days due to the verdict of Pakistani Supreme Court of reduction in prices of oil products, welcome the Presidential Ordinance of increased in oil prices.

The market able to break the shackles by crossing the psychological level of 7500 but could not maintained there due to profit taking by the investors.

At 1341 PST (0741 GMT), KSE 100-Index was trading at 7,477.76 levels, gaining just 1.65 points. KSE 30-Index gained only 7.41 points and was trading at 8,027.81 levels, whereas KSE All Share Index increased by 3.67 points and was trading at 5,333.58 levels here.

Market volumes were showing good investor participation as turnovers of 102,759,300 shares were traded till filing of this report.

On active issues' chart, a total of 219 scrips have exchanged hands so far, out of which, value of 116 equities advanced, 92 stocks shed prices, whereas 11 issues remained stagnant.

Pace (Pak) Ltd was leading the volumes leaders' table with 12, 486,500 volumes, followed by Fauji Cement and PTCL with 8,757,500 and 7,587,000 turnovers respectively.