With optimism of continued gas supply to the fertiliser sector through the rest of December versus the initial reports of a mid month shutdown, sector scripts staged a strong rally as the KSE-100 index gained 108 points to close at 11,392 points. Volumes were also on the up-tick as 50m shares were traded in today’s session with fertiliser stocks accounting for 13.6m of the total.
The KSE 100 index closed at 11392.57 levels with the gain of 108.68 points, while total volume stood at 44,005,915 along with the total value of 2,453,791,067. The KSE 30 index bagged 173.95 points to close at 10618.22 levels, and All Share index closed at 7890.19 levels after gaining 71.33 points. Total 121 scrips advanced 90 declined and 102 remain unchanged out of total 313 scrips traded.
In light of strong Year To Date off-take numbers, the cement sector also joined the winners circle as both LUCK and DGKC closed 3 per cent higher than yesterday’s closing. As the recent beat down driving the index to the ground, key scripts have unwittingly seen their valuations become highly attractive creating a prime opportunity for bargain hunters to scoop them up in time for the upcoming year end results season.