Thursday, February 21, 2013
KSE stages mild recovery as free float index begins
KARACHI: The Karachi share market staged a mild recovery as totally free whataburger coupons float index, Having commenced from Monday (September 15), Reduced the final volatility, Experts said.
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Of your current KSE-100 stock index gained 52.69 traits or 0.34 percent to shut at 15746.90 stages. KSE-30 explains index gained 23.84 problems or 0.18 proportion to end at 12927.22 items. Shares of 335 establishments were traded of which 155 scrips advanced, 153 declined and 27 remained unaffected.
Dealers said the much awaited free float based index methods has finally been implemented, Everyon which KSE-100 index calculation would now be carried out by free float market cap.
The the past few re-Composition seems a positive step towards actual depiction of stock exchange movements and for individual investors who take investment decision on such basis as index movement.
Analysts said that some recovery was seen at any nearby bourses mainly led by cement stocks. Maple Leaf Cement and Dera Ghazi Khan Cement Company finite (DGKC) Remained in the limelight with expectancy of higher returns.
Shakir Padela, An expert at JS Global, Agreed the KSE-100 index on its first day of trading with the new free float methods ended the day positively after gaining 0.3 portion.
"Major volumetric behavior was seen in the cement sector, With DGKC and Lucky Cement both ending their spot periods of time today. Kohat Cement Co Ltd closed the next day of gaining 3.4 percent on the statement of better than expected quarterly result, He explained.
"Market should merge and readjust itself with the quarterly result season coming into full swing, Padela placed.
Dealers said that there was selling pressure seen in oil stocks with low volumes on expected state college selling. The ready market quantities stood at 81.892 million shares weighed against 113.123 million shares withduring the last trading session.
The scrip gained 63 paisas to shut at Rs9.32. It was with DGKC with trades of 7.710 million stocks and options. It gained 59 paisas to absolve at Rs50.98. Fauji Cement was the third with investments of 6.141 million reveals. It done at Rs6.32 without experiencing any change in its value