KARACHI

Political clashes in Punjab amid protests, falling trend in international oil prices to a 5 year low weakening earnings outlook in blue chip oil stocks played a catalyst role in bearish activity at KSE despite support in selected cement stocks on falling trend in coal prices and rising dispatches July-Nov'14, said analyst Ahsan Mehanti. The benchmark KSE-100 Index lost net 138.45 points or 0.43 percent and to close end of the day at 32010.33 points.

The KSE-All Share Index dropped by 58.83 points or 0.25 percent and closed at 233121.19 points, KSE-30 Index fall by 94.04 points 0r 0.45 percent and concluded at to 20724.29 points, while KMI-30 Index declined by 417.60 points or 0.82 percent and closed at 50650.94 points. High and Low were 32206.19 and 31979.63 respectively. Volumes decreased to 187m shares, value also declined to $87.5m (value PKR8.75b), said Samar Iqbal at Topline.

Total volume traded in the market was 204,614,361 and in terms of value it was 10,208,714,573.

Total traded companies were 360, among them 141 advanced, 193 declined while 26 remained unchanged.

Bank of Punjab was market leaders with a volume of 14,018,500 and price per share of 9.17 (0.12) while TRG Pak Ltd with a volume 11,714,000 of price per share of 13.94 (0.04) and PIAC (A) with a volume 10,840,000 of price per share of 8.03 (0.43) remained second and third. Three top advancers were Bata (Pak) with price per share 3445.00 (95.00), Shezan Inter. XDXB with price per share of 1174.65 (55.93) and Mithchells Fruit share of 753.19 (35.86). Wyeth Pak Ltd with price per share of 3933.00 (-206.15), Siemens Pakistan with price per share of 1197.25 (-34.58), Exide (PAK) per share of 2215.72 (-33.03) were the three top decliners respectively.

Analyst at Topline Security said the outgoing year will be remembered in the Pakistan capital market history for mega public offerings led by sale of shares by Government of Pakistan.

With 4 new offerings in December, total offerings for 2014 will reach 10 compared to 3 in 2013. This number is good compared to last 5-year average annual offerings of around 3 per year but is still less than 30 offerings a year in 1990s. Year 2014 will be historic in terms of money raised through these offerings. After a gap of 7 years, Rs72b will be raised through offerings in 2014. So far Rs58b has been raised in total from both IPOs and secondary offerings, which may exceed Rs72b by Dec 2014. This compares favourably with meager Rs4b raised in 2013.