On Tuesday the bulls kept dominating Karachi stocks market with the benchmark, KSE 100-share index gaining 13.84 points. Ahsan Mehanti, Director at Arif Habib Investments Limited, said that the Pakistan stocks closed higher amid thin trade on easing political concerns after designation of Deputy PM and hopes for improvement in Pak-US ties on resumption of Nato supply routes.
The day saw the index closing up by 0.10 percent at 13, 656.04 points against 13, 642.20 points of first working day of the week. The trading volumes at the ready-counter were recorded higher 57.989 million shares against 56.825 million shares of the previous day. The trading value was up to Rs 2.005 billion compared to Rs 1.863 billion of the previous session. The intraday high and low, respectively, stood at 13, 707.21 and 13, 587.97 points. He added that the institutional support in blue-chip stocks across the board ahead of year end close played a catalyst role in bullish sentiments despite concerns for security situation in the city and uncertainty in global stocks and commodities on prevailing euro-zone debt crises.
The market capitalization grew modestly and increased to Rs 3.484 trillion from Rs 3.482 trillion a day earlier. Of the total 353 traded scrips, 105 gained, 163 lost and 85 finished as unchanged. The free-float KSE-30 index also gained 4.86 points to close at 11, 779.67 points against the previous 11, 774.81 points. The KSE all-share index closed with a gained of 6.72 points to 9,615.66 points as against 9, 608.94 points.
D.G.K. Cement was the day’s volume leader counting its traded shares at 7.225 million with the opening and closing rates standing at Rs 39.18 and Rs 39.17, followed by Hub Power Company, Pak Reinsurance, Bank Al-Falah and Jahangir Siddiqui Company with turnover of 3.901 million, 3.679 million, 3.357 million and 2.760 million shares respectively. On the future market, the turnover recovered remarkably by over 9 million shares to 21.391 million against 12.359 million shares of Monday. The Unilever Food and Rafhan Maize Prod, up Rs 111.00 and Rs 71.48, led highest price gainers while, Exide (Pakistan) and Sanofi-Aventis Pakistan, down Rs 9.30 and Rs 7.92 respectively, led the losers.
