Pakistan stocks climbed to yet another high on Wednesday, led by energy and cement stocks, dealers said.
The benchmark 100-share index of the Pakistan Stock Exchange ended 0.09 percent higher at 37,426.39 points, after having earlier touched a high of 37,614.45.”The market witnessed a dull session today, but slowly climbed to yet another high while gaining 34 points,” said Hammad Aman, Manager Equity Sales at Topline Securities (Pvt) Ltd.
Volume rose 38 percent to 140 million shares, while value was flat at 7.7 billion rupees.
K-Electric and Fauji Cement Company Ltd led the volume charts with a combined trade of about 37 million shares.
Continued interest was seen in Fauji Cement, which closed up 4.3 percent.
Engro Corporation Ltd said it had sold 295 million shares of Engro Fertilizers Ltd through a private placement to local and foreign investors at a price of 65.47.Engro Corp gained 0.3 percent while Engro Fertilizers eased 0.8 percent.
