Pakistan stocks closed bullish with investor interest in stocks across the board as Pak-US near resolution on Nato supply routes. This was viewed by Ahsan Mehanti, Director at Arif Habib Investments Limited.
The Karachi Stock Exchange-KSE benchmark 100-share index went up by 341.51 points on first working day of the week and ended the session at 14, 142.92 points. The KMI-30 index gained 526.68 points as market closed at the level of 24, 303.16 points on Monday as against 23, 776.48 points, the closing figure of the previous session. The trading session remained positive as index witnessed volumes of 106.453 million shares on Monday against 74.047 million shares traded in the previous session.
The trading value increased to Rs 4.943 billion compared to Rs 3.038 billion of the previous session. The intraday high and low, respectively, stood at 14, 169.78 and 13, 801.41 points. Mehanti added that the Recovery in global stocks and commodities and expectations for flow-in of foreign portfolio investment on improvement in Pak-US ties played a catalyst role in bullish sentiments ahead of earning announcements due next week.
The market capitalization grew modestly and increased to Rs 3.600 trillion from Rs 3.518 trillion a day earlier. Of the total 332 traded scrips, 178 gained, 78 lost and 76 finished as unchanged. The free-float KSE-30 index also gained 324.78 points to close at 12, 246.91 points against the previous 11, 992.13 points. The KSE all-share index closed with a gained of 227.47 points to 9, 935.78 points as against 9, 708.31 points.
Fauji Fertilizer was the day’s volume leader counting its traded shares at 13.438 million with the opening and closing rates standing at Rs 111.05 and Rs 113.94, followed by Jahangir Siddiqui Company, D.G.K Cement, Lucky Cement, Fatima Fertilizer Company and National Bank of Pakistan with turnover of 9.650 million, 8.496 million, 4.725 million and 4.094 million shares respectively.
On the future market, the turnover recovered remarkably by over 9 million shares to 10.413 million against 19.938 million shares of pervious day. The UniLever Food and Nestle Pakistan Limited, up Rs 78.61 and Rs 61.29, led highest price gainers while, Island Textile and Tri-Pack Films, down Rs 9.87 and Rs 2.99 respectively, led the losers.
For how long Pakistan Today would cover Ahsan Mehanty and his weak analysis. There are many analyst and sales team people who could give better comments than Ahsan Mehanty who sells mutual funds for one fund only and has never written a report for investors.
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