The bulls kept dominating Karachi stocks market on Tuesday with benchmark, KSE 100-share index gaining 80.47 points. The day saw the index closing up by 0.54 percent at 15,080.55 points against 15,000.08 points of last week. Pakistan Stocks closed bullish amid strong valuations in the earning announcement session at KSE after strong recovery in global commodities, said Abdul Azeem, an analyst at InvestCap. On Wednesday, the trading volumes at the ready-counter were recorded higher at 222.195 million shares against 96.743 million shares of the previous day. The trading value increased to Rs 5.464 billion compared to Rs 2.538 billion of the previous session. The intraday high and low, respectively, stood at 15,101.12 and 15,000.08 points. He added that the renewed foreign interest, higher local POL prices, hopes for revival of gas supply to fertilizer units in the country played a catalyst role in bullish sentiments despite concerns for political backlash on judicial decisions.
The market capitalization increased to Rs 3.844 trillion from Rs 3.827 trillion a day earlier. Of the total 310 traded scrips, 190 gained, 98 lost and 22 finished as unchanged. The free-float KSE-30 index also gained 24.96 points to close at 12,902.88 points against the previous 12,877.92 points. Lafarge Pakistan was the day’s volume leader counting its traded shares at 39.419 million with the opening and closing rates standing at Rs 5.27 and Rs 5.70, followed by Karachi Electricity Supply Corporation (K.E.S.C), Fauji Cement, D.G.K Cement and Pace Pakistan Limited with turnover of 24.135 million, 22.298 million, 16.902 million and 15.009 million shares respectively.
On the future market, the turnover remains higher by over 5 million shares to 14.082 million against 9.157 million shares of last working day.
The Bata Pakistan Limited and Siemens Pakistan, up Rs 39.48 and Rs 15.01, led highest price gainers while, Colgate Palmolive and Shezan Inter, down Rs 56.25 and Rs 10.20 respectively, led the losers.
