On Wednesday the bulls kept dominating Karachi stocks market with the benchmark, KSE 100-share index skyrocket 173.73 points. Ahsan Mehanti, Director at Arif Habib Investments Limited, said that the Pakistan stocks closed bullish on expectations for improvement on Pak-US relations post opening of NATO routes. The day saw the index closing up by 1.26 percent at 13937.95 points against 13,764.22 points of Tuesday. The trading volumes at the ready-counter were recorded lower at 261.515 million shares against 268.727 million shares of the previous day. The trading value was up to Rs 6.967 billion compared to Rs 5.295 billion of the previous session. The intraday high and low, respectively, stood at 13,964.61 and 13,734.22 points.
He added that the higher global commodities and stocks, renewed foreign interest in oil and banking stocks on stronger earnings outlook ahead of major earning announcements due next week played a catalyst role in bullish sentiments at KSE despite concerns for worsening security situation in the city.
The market capitalization grew modestly and increased to Rs 3.575 trillion from Rs 3.529 trillion a day earlier. Of the total 366 traded scrips, 207 gained, 88 lost and 71 finished as unchanged. The free-float KSE-30 index also gained 177.55 points to close at 12,206.05 points against the previous 12,028.50 points. The KSE all-share index closed with a gained of 126.76 points to 9,802.39 points as against 9,675.63 points.
Fauji Cement was the day’s volume leader counting its traded shares at 32.019 million with the opening and closing rates standingat Rs 7.11 and Rs 7.10, followed by Lafarge Pakistan, D.G.K. Cement, Jahangir Siddiqui Company and Azgard Nine with turnover of 25.368 million, 22.558 million, 18.546 million and 18.376 million shares respectively.
On the future market, the turnover recovered remarkably by over 5 million shares to 19.946 million against 13.840 million shares of Tuesday. The Unilever Pakistan Limited and Nestle Pakistan XD, up Rs 95.15 and Rs 53.79, led highest price gainers while, Indus Dyeing and Rafhan Maize XD, down Rs 20.24 and Rs 17.86 respectively, led the losers.
