The bulls kept dominating Karachi stocks market on Wednesday with benchmark, KSE 100-share index gained 62.82 points. The day saw the index closing up at 15, 234.48 points against 15, 171.66 points of first working day of the week.
Pakistan Stocks closed higher with rising volumes after Apex Court grants three weeks to resolve the NRO implementation issue. Investor interest witnessed in blue chips stocks in oil and banking sector on strong earnings outlook amid hopes for signing of Bilateral Investment Treaty with US. This was said by Ahsan Mehanti, Director at Arif Habib Investments Limited.
On Tuesday, the trading volumes at the ready-counter were recorded higher at 312.490 million shares against 269.258 million shares of the previous day. The trading value increased to Rs 7.224 trillion compared to Rs 5.930 trillion of the previous session. The intraday high and low, respectively, stood at 15, 304.40 and 15, 171.66 points. Trading took place in 338 companies where loser out numbered gainers 169 to 146 while values of 23 stocks remain intact.
He added that the rise in well head gas prices for E&P sector in Petroleum Policy 2012 played a catalyst role in bullish sentiments in the earning announcement session at KSE amid concerns for uncertainty in global commodities and security issues in the city.
The free-float KSE-30 index adds 92.96 points to close at 13, 090.15 points against the previous 12, 997.19 points. The KMI 30-share was up by 71.55 points to close at 26, 864.08 points from its opening at 26, 792.32 points. The KSE all-share index closed with gain of 45.26 points to 10, 740.58 points as against 10, 695.32 points.
P.T.C.L.A was the top traded company of the day with 23.144 million shares gains Rs 1 rupe to Rs 17.29 from Rs 16.29. Telecard Limited was on the second position with 22.913 million shares shed Rs 0.43 to Rs 2.67. It was followed by Fauji Cement, Lafarge Pakistan, WorldCall Telecom, NIB Bank Limited, TRG Pakistan Limited and D.G.K Cement with turn over of 19.719 million, 19.294 million, 19.074 million, 16.603 million, 11.295 million, and 9.781 million shares respectively. Bata Pakistan Limited was the biggest price gainer of the day increased by Rs 45.70 to stop Rs 959.75 followed by Exide Pakistan up Rs 13.36 to end at Rs 280.62. Major loser included UniLever PakistanXD down by Rs 348.50 to lock at Rs 8501.50 and Colgate Palmolive off Rs 70.10 to close at Rs 1353.23 respectively.
