On Tuesday the bulls kept dominating Karachi stocks market with the benchmark, KSE 100-share index skyrocket 266.34 points. Ahsan Mehanti, Director at Arif Habib Investments Limited, said that the Pakistan stocks closed bullish amid higher trades as investors cheer Pak-US progress on resumption of NATO supplies. The day saw the index closing up by 1.92 percent at 14,142.08 points against 13,875.74 points of Monday. The trading volumes at the ready-counter were recorded higher at 179.108 million shares against 81.448 million shares of the previous day. The trading value was up to Rs 5.259 billion compared to Rs 2.121 billion of the previous session. The intraday high and low, respectively, stood at 14,157.81 and 13,875.74 points.
He added that the Institutional support in oversold market as global stocks and commodities recover after weak sessions. The market capitalization grew modestly and increased to Rs 3.611 trillion from Rs 3.544 trillion a day earlier. Of the total 372 traded scrips, 226 gained, 76 lost and 70 finished as unchanged. The free-float KSE-30 index also gained 260.79 points to close at 12,267.03 points against the previous 12,006.24 points. The KSE all-share index closed with a gained of 185.51 points to 9,935.82 points as against 9,750.31 points. Mehanti stated that the speculations over favorable federal budget announcements for corporate sector and expectations for release of US military aid to Pakistan played a catalyst role in bullish sentiments despite concerns for fall in rupee dollar parity and rising current account deficit.
Jahangir Siddiqui Company was the day’s volume leader counting its traded shares at 19.698 million with the opening and closing rates standing at Rs 16.34 and Rs 16.91, followed by P.T.C.L.A, D.G.K. Cement, Lafarge Pakistan and Fauji Cement with turnover of 17.252 million, 14.288 million, 10.356 million and 7.757 million shares respectively.
On the future market, the turnover recovered by over one million shares to 20.879 million against 19.752 million shares of Monday. The Unilever Pakistan XD and Unilever Food XD, up Rs 100.00 and Rs 90.00, led highest price gainers while, Bata Pakistan Limited and Shahtaj Sugar Mills, down Rs 19.03 and Rs 3.66 respectively, led the losers.
