Karachi Capital Market dips

Karachi Capital Market dips

Islamabad: (Thursday, January 19, 2012) After witnessing bullish trends for a week or so, Karachi capital market dipped today as the investors preferred to book profit in blue chip companies like Oil and Gas Development Co Ltd
(OGDCL).

With the day closing at 11,515.59 points, the Karachi Stock Exchange (KSE) 100-index lowered for about 32.12 points. Yesterday, the index closed at 11,547.71 – highest since December 1. Today, amid the hearing of contempt of court
case against Prime Minister Yousuf Raza Gilani, the marked was expected to witness a declining trend. However, the decline in the 100-index was less than expectations.

The volume of shares today, went up to 92.47 million shares compared to 83.73 million shares traded on yesterday.

Commenting on today’s business day, Samar Iqbal, one of the dealers at Topline Securities Ltd said, “After rising by more than 500 points in last few sessions, some profit-taking was seen at Karachi Stock Exchange. OGDCL, which
rallied in the last session, fell by two percent.”

Although it enjoyed greater attention of the buyers, but OGDCL too lost its value by 2.11 percent on the KSE-Index. The share value for OGDCL ended at 148.15.

Short URL: https://www.newspakistan.pk/?p=9837

Posted by Fayyaz Yaseen on Jan 19 2012. Filed under Business. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry