Stocks add 68 points henceforth of Federal budget

KARACHI – Stocks shut down on higher amid thin trade following SBP status quo in the policy declares.  The Karachi Stock Exchange benchmark 100-index closed up by 68 points on Monday in a scope-bound session, as traders adopted wait and see policy towards of the federal budget, dealers stated.

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The KSE-100 index pulled higher by 68.05 dots, or 0.24 percent, to close at 28,951.38 points against 28,883.33 points recorded in the final sitting.

KSE-All Share Index off by 15.44 degrees or 0.07 percent to finish at 21532.96 points, KSE-30 index added 79.67 points or 0.40 percent to finish the trading at 19962.42 points while KMI-30 increased by 181.35 points or 0.39 percent to close the session at 46101.45 periods.

Turnover fell by 21 million shares to 111.52 million against 132.57 million parcels.

On Monday, Stockbrokers stated that the lackluster activity on the market was also triggered by the pre-budget dithers. The investors decided to stay safe until the budget delares as the finance minister had already implied at levy of new taxes.

Throughout the session 354 companies exchanged their hands where 196 shut down in positive and 136 in negative while the value of 22 stocks not changed. Bata (Pak) XD was the biggest price gainer of the day up by Rs 178.61 to Rs 3751 followed by Sanofi-Aventis up by Rs 46.97 to Rs 986.47. Nestle Pak and Pak TobaccoXD led the downhill trend decreased by Rs 170 to Rs 8080 and Rs 67.49 to Rs 1282.39.

Highest growth was recorded in the shares of Bata (Pak) -XD, which rose by Rs178.61 to Rs3, 751 per share; followed by Sanofi Aventis-XD that improved by Rs46.97 to Rs986.47 per share.

K – Electirc conducted the volume leaders with 6.3m shares; it was a follow up of the huge turnover witnessed in the KEL scrip after it launch a space among the four additional parts included in the Pakistan MSCI Frontier Market index, announced late last week.

Shares turnover in the futures market relinquished to 8.25 million from 13.42 million shares sold in the late academic term.

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