Morning Chronicle issued by Adeel and Nadeem Securities Limited

Karachi, June 19, 2012 (PPI-OT): The KSE-100 share index remained range bound on the last trading session of the week but succeeded to close in the green zone.

According to Adeel and Nadeem Securities Limited, the KSE-100 share index concluded the day at 13,665.80 with an increase of 9.60 points (+0.07 percent). During the last week, the KSE- 100 share index gained 107.10 points after following two bearish weeks. The intra-day range of the KSE-100 index for the session was 13,616.71 – 13,752.97. Total shares traded during the session however decreased by 5.18 million shares from the previous turnover of 114.33 million shares to reach at 109.14 million shares. The KSE-100 share index opened the session at 13,673.64 with an upside gap of 17.44 points but moved in both directions afterwards as investors opted to shed their long positions and adopted a cautious approach after witnessing foreign selling worth $7.4 million in the previous session. The foreign investors were once again seen on the selling side with a net sale of $US 2.39 million during the session. Out of 342 active scrips, 137 closed in the positive zone, 121 in the negative zone, while the values of 84 scrips remained unchanged.

The KSE-100 index is bearish as long as it stays below the area of 13,755- 13,856. So if it surges and comes near that range today, some profit taking is advised.