On Wednesday bulls announced their return and dominated the Karachi stock market with the benchmark, KSE 100-share index lifted up by 37.50 points. Ahsan Mehanti, Director at Arif Habib Investments Limited, said that the Pakistan stocks closed higher amid trading in narrow range owing to the progress towards reopening of NATO supplies. The day saw the index closing up by 0.27 percent at 13,745.73 points against 13,708.23 points of Tuesday.
The trading volumes at the ready-counter were recorded higher at 77.899 million shares against 67.622 million shares of the previous day. The trading value was up to Rs 3.397 billion compared to Rs 2.477 billion of the last day session. The intraday high and low, respectively, stood at 13,840.76 and 13,708.23 points.
He added that the investor interest in blue-chip stocks in oversold fertiliser, cement, telecom sectors witnessed a positive trend despite uncertain global stocks and commodities on Euro zone debt crisis. Market capitalisation grew modestly and increased to Rs 3.517 trillion from Rs 3.509 trillion a day earlier. Of the total 355 traded scrips, 117 gained, 157 lost and 81 remained unchanged. The free-float KSE-30 index also gained 50.42 points to close at 11,885.47 points against the previous day’s 11,835.05 points. The KSE all-share index closed with a gained of 22.54 points to 9,685.87 points as against 9,663.23 points.
Jahangir Siddiqui Company was the day’s volume leader counting its traded shares at 8.761 million with the opening and closing rates standing at Rs 14.64 and Rs 13.90, followed by DGK Cement, Engro Corporation, Engro Foods Limited and Bank Al-Falah with the turnover of 8.361 million, 8.132 million, 3.754 million and 2.730 million shares respectively.
On the future market, the turnover recovered by over three million shares to 8.253 million against 5.503 million shares of Tuesday. The Nestle Pakistan Limited and Colgate Palmolive, up Rs 67.60 and Rs 23.17, led highest price gainers, while Wyeth Pakistan Limited and Siemens Pakistan, down Rs 27.71 and Rs 24.51 respectively, led the losers.
