For a third straight day the local bourse remained in a buoyant stage and catapulted the index past the 12,500 barrier by adding 139 points for the day to close at 12,508 points. Engro, which had earned the ire of investors since last week, finally dug itself out of the red zone to finish up 4.9 percent from yesterday’s close.
In recent times, Engro has performed relatively poorly while other fertiliser scrips are beginning to move upwards and accounted for 18 million shares with FFBL perched on the top of volume leaders’ board. The KSE-100 index 12,508.42 with the gain of 139.01 points and total volume standing at 60,174,475 along with the total value of 4,625,459,526. The KSE-30 index gained 162.03 points to close at 11,878.95 and All Share index closed at 8,675.24 after gaining 89.85 points.
A total of 172 scrips advanced, 96 declined and 82 remain unchanged out of a total of 350 scrips traded. The positive streak was prevalent across the board in today’s session with the oil, energy, power and banking sectors showing impressive gains. The last three days have indicated a bullish run. Aggressive buying was witnessed in fertiliser scripts as rumors of urea price hike resurfaced. Engro, FFC and FFBL contributed more than 35 percent of the total value traded. POL managed to shine amongst energy companies, up 2.3 percent on rumors of an expected rise in production in one of the key development fields.
Foreign institutional investors were rumored buyers in fertiliser scripts, while locals were seen active in energy and textile scripts.
