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Sunday, 13 May 2012

STOCK MARKET UPDATE: 14.05.2012


Stock


Karachi Stocks Down 189.70 Points:
KARACHI, May 11: At close of trading, the KSE-100 index was at 14230.49, down 189.70 points.

May 11, 2012
 5 TOP GAINERS  &  LOOSERS:


Colgate Palmolive

Rs 45.46

Unilever Pak

Rs (38.77)

Shezan Int’l

Rs 7.98

Nestle Pak

Rs (13.51)

Sanofi-Aventis

Rs 5.21

Unilever Food

Rs (12.65)

Shield Corp

Rs 4.55

Mithchells Fruit

Rs (10.25)

Attock Petroleum

Rs 3.34

Island Textile

Rs (7.57)


KSE 100-share index sheds 189 points


ISLAMABAD: The Karachi Stock Exchange benchmark 100-share index ended 1.32 percent, or 189.7 points, lower at 14,230.49 points, with a volume of 195.7 million, compared to Thursday's close of14,420.19 points.

Stocks dropped for a second consecutive day on Friday with investors concerned about the possibility of the US Congress imposing more conditions on American assistance and trade with Pakistan, analysts said.

"The news of possible strict conditions on American aid to Pakistan kept the mood at the market negative," said a research analyst at the JS Global financial services company.

The US House Appropriations Subcommittee for State and Foreign Operations on Thursday approved a bill that would attach additional conditions to any civilian or military aid to Pakistan by demanding it help more in combating militant groups and disrupting networks providing material for homemade bombs being used against NATO forces in Afghanistan.

Pakistan suspended important overland supply routes to NATO forces in Afghanistan after NATO aircraft killed 24 Pakistani soldiers in November. (Reuters)


MOHAMMED SALEEM MANSOORI

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