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[February 27, 2013]
Roundup: KSE rebounds with 1.04 pct jump after HUBCO result
KARACHI, Feb 27, 2013 (Xinhua via COMTEX) -- by Jawad Hussain Bulls made a strong comeback at Pakistan's Karachi Stock Exchange (KSE) on Wednesday which achieved the historic 18,000 levels as investors made full use of the equities available at lower prices mainly led by Hub Power Company Limited (HUBCO) which announced hefty payout for December quarter.
The benchmark KSE 100-Index jumped by 1.04 percent or 186.01 points to close at 18,080.91 levels on Wednesday as against close of 17,894.90 levels recorded on Tuesday as investors as Pakistan Telecommunication Company Limited, Dera Ghazi Khan Cement, and Engro Corporation returned to bullish ways after the market received two days of bearish trade.
The KSE All Share Index surged by 0.8 percent or 100.57 points to end at 12,692.27 levels on Wednesday as against 12,591.70 levels posted on Tuesday, the KSE 30-Index bolstered by 1.27 percent or 185.5 points to conclude at 14,833.15 levels on Wednesday as against Tuesday's levels of 14,647.65, whereas the KMI 30-Index augmented by 1.17 percent or 364.05 points to finish trading activities at 31,388.2 levels on Wednesday when compared with Tuesday's closing levels of 31,024.15 levels.
The Karachi Stock Exchange commenced the Wednesday's trading activities on a bullish note and the main index went past the psychological 18,000 levels during initial trade but soon a bearish trading trend undid the early gains and the main index slumped to its lowest level of the day of 17,876.56.
However, robust financial result by Hub Power Company (HUBCO) lured investors back into trading activities and the main index regained the psychological 18,000 levels for the second time in a day and continued its upsurge for the rest of the day where at one stage before the closing bell it hit the highest level of the day of 18,087.87 before closing just a touch lower.
Market volumes declined by 43.314 million shares to 269.537 million shares on Wednesday as against trading of 312.851 million shares recorded on Tuesday as investors bought exposure in the oil, cement, and fertilizer stocks after a two days bearish trade at the top Pakistani equity market.
Market capitalization improved by 35.618 billion rupees (363.
450 million U.S. dollars) to 4.494 trillion rupees on Wednesday when compared with market capitalization worth 4.459 trillion rupees reported on Tuesday.
The Karachi Stock Exchange's trading value declined by 1.603 billion rupees to 7.277 billion rupees on Wednesday when compared with Tuesday's trading value of 8.880 billion rupees.
As per the figures released by the National Clearing Company of Pakistan Limited (NCCPL), the foreign investors came up with net buying worth 49.925 million rupees on Tuesday. During the month of February, the offshorers have net invested a total of 2.324 billion rupees until February 26, 2013.
In broader market, a total of 374 companies changed hands during the course of trading on Wednesday where prices of 197 issues ended in green zone, 153 closed in red terrain, whereas values of 24 other scrips stayed unchanged at Tuesday's levels.
Lafarge Pakistan was the top traded company of the day with trading of 28.266 million shares in its scrip, followed by Telecard Limited, Pakistan International Airlines, Maple Leaf Cement, Engro Corporation, Jahangir Siddiqui Company Limited, Pakistan Telecommunication Company Limited, WorldCall Telecom, Pace Pakistan Limited, and Azgard Nine Limited with turnovers of 25.428 million shares, 15.366 million shares, 14.232 million shares, 13.237 million shares, 13.153 million shares, 12.509 million shares, 10.377 million shares, 9.653 million shares, and 9. 265 million shares, respectively.
Mitchells Fruit XDXB was the top price gainer of the day with increment of 13.40 rupees per share to close at 326.90 rupees while on the other hand, Nestle Pakistan Limited led the major price shedders of the day with decrement of 131.82 rupees a share to finish the day at 5,000 rupees.
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