Buying frenzy at the local bourse continued for its seventh consecutive session with aggregate gains of 671points or six per cent. Today’s session, albeit blanketed in green, was however poles apart in terms of volumes in comparison to preceding sessions as 118m shares were traded during the day, scattered across the board.
Healthy earnings expectation and dividend payout kept investor interest in FFBL alive as the stock led the volume leaders’ board yet again. Proposal for petroleum policy 2011 triggered rally in the oil and gas sector led by index heavy OGDC which notched up an upper circuit breaker. News flows regarding momentary resolution of circular debt further pushed PSO northward. Profit taking after such a price action appears imminent. Moreover, investors are also cautiously monitoring the US Fed’s stance in the coming days.
The KSE 100 index closed at 11851.98 levels with the gain of 329.10 points, while KSE 30 index secured 311 points to close at 11366.55 levels. All Share index closed at 8214.75 levels after gaining 216.38 points. Total 195 scrips advanced 83 declined and 76 remain unchanged out of total 354 scrips traded.
Oil and Gas Development Company (OGDC) contributed heavily in the index gains, hitting its maximum limit cap with volumes of 1.1mn shares. NBP, ICI, PAKRI and AICL also hit the upper limit cap with volumes of 7.4mn, 0.2mn, 0.6mn and 0.3mn shares, respectively. FII’s and institutions were rumored fresh buyers in OGDC, PSO, MCB and POL.
KSE Market Capitalisation stood at Rs3,124.22b, that is $ 35.60b, while total volume was 117.14m shares. Total ready market value was Rs6.67b, that is $75.97m, and KSE future volume stood at 8.71m shares. KSE future value was Rs839.56m. KSE future spread stood at 7.53 per cent.
