On Monday the bulls kept dominating Karachi stocks market with the benchmark, KSE 100-share index skyrocket 106.45 points. Ahsan Mehanti, Director at Arif Habib Investments Limited, said that the Pakistan stocks closed bullish on investor speculations in over sold market ahead of federal budget announcements due this week. The day saw the index closing up by 0.76 percent at 14,031.51 points against 13,925.06 points of last working day of the week.
The trading volumes at the ready-counter were recorded higher at 181.329 million shares against 165.289 million shares of the previous day. The trading value was up to Rs 5.725 billion compared to Rs 5.354 billion of the last day session. The intraday high and low, respectively, stood at 14,059.47 and 13,925.06 points.
He added that the Renewed foreign interest in oil & banking stocks, stability in rupee fall, expectations for early resolution of NATO supply issue leading to release of US military aid to Pakistan, recovery in global stocks and commodities played a catalytic role in bullish sentiments despite concerns for rising political uncertainty.
The market capitalization grew modestly and increased to Rs 3.591 trillion from Rs 3.562 trillion a day earlier. Of the total 369 traded scrips, 191 gained, 108 lost and 70 finished as unchanged.
The free-float KSE-30 index also gained 148.93 points to close at 12,239.13 points against the previous 12,090.20 points. The KSE all-share index closed with a gained of 77.98 points to 9,880.00 points as against 9,802.02 points.
D.G.K Cement was the day’s volume leader counting its traded shares at 23.798 million with the opening and closing rates standing at Rs 42.77 and Rs 43.90, followed by Jahangir Siddiqui Bank Limited, Bank Islami Pakistan, TRG Pakistan and World Call Telecom with turnover of 12.741 million, 11.839 million, 10.310 million and 9.839 million shares respectively. On the future market, the turnover down by over 13 million shares to 16.892 million against 29.056 million shares of Friday. The Mithchells Fruit and National Refinery, up Rs 13.65 and Rs 10.84, led highest price gainers while, Rafhan Maize XD and Unilever Pakistan XD, down Rs 139.12 and Rs 133.75 respectively, led the losers.
