Political ambiguity keeps index in hot water

KSE-100 Index sees another volatile week decreasing by 885 points
Ghulam Raza Rajani

KARACHI: Market observed serious volatile trading week as index remained in state of flux. Political uncertainty & fate of Prime minister and his family continued to show its aftermaths on market keeping it in state of shock. Volatility in international oil prices kept local oil scrips in flux playing its part in market decline. Fresh buying from foreigners assisted market to take uturn and limit the overall decline of market. 
The benchmark KSE-100 index was down by 884.71 points to close at 44,337.44 points. KSE All Share Index decreased by 615.34 points to end at 31,096.99, KSE 30-Index dipped by 407.36 points to conclude at 23,102.10.
The ready market average volume increased by 5.24 per cent to 174.66 million shares compared to 165.97 million shares traded on last week. The market capitalization of KSE down by Rs 170.49 billion to Rs 9.109 trillion against Rs 9.280 trillion observed last week.
K-Electric Limited remained overall volume leader during the week at 68.63 million shares; down by Rs 0.17 to close at Rs 6.59. Second on the volume leader was TRG Pakistan Limited, increased by Rs 0.13 to close at Rs 36.06 by trading nearly 55.32 million shares. Bank of Punjab remained as the third volume leader of the week by trading well over 46.74 million shares higher by Rs 0.10 to close at Rs 11.65.
In the past week 342 scrips traded in which 103 scrips advanced, 224 declined while the value of 15 scrips remained intact.
Wyeth Pakistan Limited and Colgate Palmolive Limited remained the top gainer by Rs 141.00 and Rs 100.00 to close at Rs 2,241.00 and Rs 2,400.00 respectively, while Nestle Pakistan Limited and Unilever Pakistan Foods Limited were among the major loser which lost Rs 515.00 and Rs 199.94 to close at Rs 9,785.00 and Rs 5,600.06 respectively.