With news of corporate board meetings to announce financial results pouring in investors continued to pile their shopping baskets with desirable scrips. As a result the local bourse had another positive day, adding 41 points to yesterday’s total to finish at 12,474 points.
The KSE 100 index closed at 12474.76 levels with a gain of 41.59 points and total volume stood at 53,973,022 along with the total value of 3,102,387,308. KSE 30 index gained 19.03 points to close at 11,884.09 levels and All Share index closed at 8,642.91 levels after gaining 28.49 points. Total 136 scrips advanced 101 declined and 109 remain unchanged out of total 346 scrips traded.
ATRL and ICI were both beneficiaries of positive company specific news which led the scrips to end up in positive territory. The fertilizer sector was also on the uptick especially FATIMA which saw 6.2 million shares traded in today’s trading session. The results season has seemed to provide the stimulus that the market was lacking in the previous fortnight. MCB jumped 0.6 per cent albeit with low turnover as investors expect a dividend of three rupees per share, which will take the cumulative half year payout to six rupees per share. NBP gained 2.1 per cent over expectations of a cash dividend with 1H2011 results after rumors of amendment in the rules governing interim payouts. Exploration and production sector witnessed mixed fortunes with POL and OGDC witnessing some profit taking, while PPL witnessed some renewed buying over expectations of upward revision in gas wellhead prices.
