The bulls kept dominating Karachi stocks market on Tuesday with benchmark, KSE 100-share index gained 49.15 points. The day saw the index closing up by 0.35 percent at 14,132.59 points
against 14,083.44 points of first working day of the week Monday. Higher global commodities, rising local and export cement prices, expectations for stronger quarter-end results played a catalyst role in bullish sentiments at KSE, said Abdul Azeem, an analyst at InvestCap.
On Tuesday, the trading volumes at the ready-counter were recorded higher at 297.163 million shares against 213.340 million shares of the previous day. The trading value increased to Rs 8.864 billion compared to Rs 5.367 billion of the previous session. The intraday high and low, respectively, stood at 14,223.39 and 14,083.44 points.
He added that the Pakistan Stocks closed higher amid renewed institutional & foreign interest lead by third tier stocks. The market capitalization increased to Rs 3.617 trillion from Rs 3.605 trillion a day earlier. Of the total 372 traded scrips, 171 gained, 145 lost and 56 finished as unchanged.
The free-float KSE-30 index also gained 16.46 points to close at 12,382.87 points against the previous 12,366.41 points. D.G.K Cement was the day’s volume leader counting its traded shares at 35.756 million with the opening and closing rates standing at Rs 44.71 and Rs 42.59, followed by Lafarge Pakistan, Fauji Cement, P.T.C.L.A and National Bank XDXB with turnover of 25.307 million, 20.969 million, 19.626 million and 12.882 million shares respectively.
According to analyst the Index remained over a narrow range amid investor interest in selected oil, cement and banking stocks ahead of key quarter end earning announcements due next week.
On the future market, the turnover remains higher by over one million shares to 24.885 million against 23.426 million shares of Monday. The UniLever Pakistan Limited XD and Rafhan Maize XD, up Rs 149.43 and Rs 113.88, led highest price gainers while, Wyeth Pakistan Limited XD and Bata Pakistan XD, down Rs 37.71 and Rs 31.57 respectively, led the losers.