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Asian currencies were mixed on the day, with the offshore Chinese yuan gaining nearly 0.2% while the Malaysian ringgit and Korean won declined
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Index crosses 14,000 mark
KARACHI —The dividend-linked rally yesterday manifested itself in a bigger way as a section of leading investors opted for index-heavy weights under the lead of National Bank, OGDC and PTCL amid an actively traded session.
An idea of buying flurry may well be had from the fact that the KSE 100-share index finished at the session's peak level of 14,283.06, up 167.17 points or 1.18 per cent adding about Rs45 billion to the market capital at Rs4,405 billion or $70 billion.
Analyst Ashraf Zakaria thinks higher dividend news and bonus shares coming each session appears to the chief motivating factor behind the current technical surge.
While board meetings of PSO and MCB are due tomorrow,Shell Pakistan,Unilever Pakistan and Hub-Power had already announced cash final and interim payouts of 126 per cent, 100 per cent and 11.5 per cent in that order.
Floor brokers said announcements from the both are expected to be on the higher side but they may not be in a position to generate fresh buying as Friday will be the last pre-election session, which could prompt a lot of profit-selling owing to risk involved during the post-election trading sessions.
But some other predict sharp increase in the turnover figure well above the respectable mark of 300 million shares tells a different story, which may lead to continuation of the rally.
Top gainers included EFU Life and AKD Capital, up by Rs28.65 and 31.30, while National Foods and Siemens Pakistan were leading among the losers, off Rs22.25 and 46.95.
Trading volume soared to 339 million shares from the previous 281million shares as gainers held a modest lead over the losers at 172 to 155, with 51 shares holding on to the last levels. Bank of Punjab topped the list of actives, higher by Rs1.45 at Rs,96.90 on 25 million shares followed by National Bank, sharply higher by Rs11.55 at Rs242.90 on 24 million shares,D.G.Khan Cement, up Rs3.55 at Rs98.90 on 19 million shares, PTCL, higher by Rs1.45 at Rs40.45 on 17 million shares, Bank AlFalah, steady by 45 paisa at Rs58.50 on 12 million shares, OGDC, higher by Rs1.70 at Rs121.20 on 11 million shares and Arif Habib Securities, up45 paisa at Rs179.80 also on 11 million shares.
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