The market closed up 61 points at 12,423 after going up 160 points initially with oil stocks witnessing heavy selling pressure. PSO underwent massive pruning over rumors of foreign selling, closing down 2.2 percent, while PPL and POL ended lower by 1.0 percent and 0.1 percent, respectively after witnessing decent price appreciation earlier during the day.
The KSE-100 index closed at 12,423.30 with the gain of 60.86 points and total volume stood at 48,555,856 along with the total value of 3,009,759,385. KSE 30 index lost 11.34 points to close at 11,561.47 and the All Share index closed at 8,616.54 after gaining 42.03 points.
A total of 146 scrips advanced, 98 declined and 93 remain unchanged out of a total of 337 scrips traded. Among fertiliser stocks, FFC was actively sold to close lowered by 1.7 percent over rumors of foreign funds selling. On the other hand, banking stocks remained slightly up with MCB leading the advance gaining 0.7 percent, followed by marginal gains in NBP over expectations of better 1H2011 announcement and payout. KSE Market Capitalisation stood at Rs3,270.98 billion ($38 billion) and KSE Future Volume was 3.17 million shares. The KSE Future Value was Rs417.62 million along with the KSE Future Spread of 10.91 percent.
Top gainers in today’s session were Pakistan Telephone Cables, Gharibwal Cement, Soneri Bank Limited, Dawood Hercules Chemicals, Shifa International Hospitals Limited, Nestle Pakistan Limited, and Ibrahim Fibre Limited. Top losers included Pakistan International Airlines, Nishat Mills Ltd., Pakistan State Oil Co Ltd, Pakistan National Shipping Corporation, Fauji Fertilizer Co Ltd and TRG Pakistan.
