KSE inches up by 6.83 points

KARACHI—Last minute selling in oil exploration companies specially OGDC eroded morning gains at Karachi Stock Exchange (KSE) as 100-Index could gain only 6.83 points to close at 10,032.17, dealers said. The turnover volume was low at 107 million shares as prices of 160 scrips lost values, while 133 gain and 49 remained unchanged. A dealer at a leading securities house Usman Ali said that market was opened on bullish note with buying spree in OGDC, PPL scrips the Index touched its high during mid-day at 10,155. “Cement sector and banks also contributed in the bullish sentiment, but the selling pressure which began half an hour before the close, wiped out gains,” he added. However, the selling spree in OGDC, PPL and POL pulled down 100-Index to touch the low at 9997.3, he added. The buying in DG Khan Cement, Lucky Cement, Bank of Punjab and Bank Al-Flah gave support to Index. The market capitalisation was up by Rs 1.1 billion to Rs 2.796 trillion. Lucky Cement closed at Rs 59.35, OGDC at 115, NBP 226, POL 348.90, MCB 246.50, PICIC 62.15, PPL 232.80, PTCL 44.25, DG Khan 62.60 and Bank of Punjab 100.30. NBP was the volume leader with 15.922 million shares followed by OGDC 8.473 million shares, PPL 6.504 million shares, MCB 6.463 million shares and PICIC 5.329 million shares. Fateh Textile recorded the highest gain of Rs 16.95 to 514.95 followed by Pak Suzuki which went up by Rs 15 to 419.—Agencies