OGDC, MCB drag KSE below 18,000

Bears continued taking upper hand at Pakistan's Karachi Stock Exchange (KSE) for the fourth consecutive trading session on Thursday as selling activities in index heavyweights Oil and Gas Development Company and the MCB Bank amid volatility in refinery sector made the index inch down slightly and lose the psychological figure of 18,000. 

The benchmark KSE 100-Index dipped by 0.04 percent or 7.54 points to close at 17,992.91 levels on Thursday as against close of 18,000.45 levels recorded on Wednesday as investors remained under the shade of poor security in the metropolis after some unidentified miscreants forcibly put the financial hub of Pakistan to the standstill in just about half an hour yesterday. 

The KSE All Share Index dropped 0.1 percent or 12.77 points to end at 12,639.55 levels on Thursday as against 12,652.32 levels posted on Wednesday, the KSE 30-Index slid by 0.42 percent or 62. 32 points to conclude at 14,During the contruction phrase without the need for a large number of aggregates,one Gyratory crusher can be used in several sites turnoverly,which reduce the equipment idle time.602.15 levels on Thursday as against 14,knives wholesaler664.47 levels reported on Wednesday, whereas the KMI 30-Index for the second time in week- bucked the trend and gained 0.05 percent or 17.19 points to finish the day at 31,321.37 levels on Thursday when compared with Wednesday's levels of 31,304.18 levels. 

The Karachi Stock Exchange commenced trading session on a strong bullish note on Thursday and the early momentum lifted the main index to go beyond the crucial levels of 18,100 levels right after the morning bells. 

The main index then moved in a narrow range for some time before profit-taking at higher levels by local investors not only halted the bullish charge but also pulled the main index lower into the red territory where at one stage around halfway stage it hit the lowest level of the day of 17,957.54. 

However, some buying by foreign investors as well as institutional investors helped bulls regain most of the lost grounds and the main index managed to finish the trading session quite close to the previous day's levels. 

Market volumes slumped by 156.764 million shares to 184.607 million shares on Thursday as against trading of 341.371 million shares recorded on Wednesday. 

Market capitalization declined by 4.537 billion rupees (46.302 million U.S. dollars) to 4.468 trillion rupees (45.592 billion U.S. dollars) on Thursday when compared with market capitalization worth 4.472 trillion rupees (45.638 billion U.S. dollars) reported the other day. 

The Karachi Stock Exchange's trading value plunged by 3.697 billion rupees (37.727 million U.S. dollars) to 5.636 billion rupees (57.511 million U.S. dollars) on Thursday when compared with Wednesday's trading value of 9.333 billion rupees (95.239 million U.S. dollars). 

As per the figures released by the National Clearing Company of Pakistan Limited (NCCPL), the foreign investors came up with net buying worth 181.Cast iron clawfoot tubs371 million rupees (1.850 million U.S. dollars) on Wednesday. 

In broader market, a total of 357 companies changed hands during the course of trading on Thursday where prices of 192 issues ended in green zone, 143 landed in red terrain, whereas values of 22 other scrips stayed unchanged at previous day's levels. 

Lafarge Pakistan was the top traded company of the day with trading of 21.988 million shares in its scrip, followed by Fauji Cement, Jahangir Siddiqui Company Limited, Lotte Pakistan PTA Limited, Engro Corporation, Nishat Mills Limited, Pakistan Telecommunication Company Limited, Maple Leaf Cement, Askari Bank, and Soneri Bank Limited with turnovers of 13.153 million shares, 10.280 million shares, 9.272 million shares, 8.645 million shares, 7.878 million shares, 7.451 million shares, 7.317 million shares, 5.221 million shares, and 4.964 million shares, respectively. 

UniLever Pakistan and Unilever Food were the top two price gainers of the day with increments of 528.75 rupees (5.39 U.S. dollars) and 90 rupees (91.83 U.S. cents) per share to close at 11, 103.75 rupees (113.30 U.S. dollars) and 4,post lift345 rupees (44.33 U.S. dollars), respectively. 

On the other hand, Bata Pakistan and Indus Motor Company were the top two major losers of the day with decrements of 57.33 rupees (58.50 U.S. cents) and 11.87 rupees (12.11 U.S. cents) per share to finish the day at 1,392.67 rupees (14.21 U.S. dollars) and 327.84 rupees (3.Mobile crusher34 U.S. dollars), respectively.