The dominated matters in the Karachi stocks market on Tuesday with benchmark, KSE 100-share index gained 102.40 points. The day saw the index closing up by 0.68 percent at 15,253.71 points against 15,151.31 points of Wednesday.
Pakistan Stocks closed bullish led by oil and telecom stocks on strong valuations. Investors took positions in growth stocks after strong earning announcements and recovery in global commodities. This was stated by Ahsan Mehanti, Director at Arif Habib Investments Limited.
On Thursday, the trading volumes at the ready-counter were recorded higher at |223.722 million shares against 203.644 million shares of the previous day. The trading value increased to Rs 6.879 trillion compared to Rs 4.204 trillion of the previous session. The intraday high and low, respectively, stood at 15,292.18 and 15,151.31 points.
He added that the improved refinery margins, renewed foreign interest, hopes for early settlement of judicial issues and improved economic outlook on back of lower expected CPI Inflation for August played a catalyst role in bullish sentiments despite concerns for rising circular debt in Pakistan Energy sector.
The market capitalization increased to Rs 3.885 trillion from Rs 3.861 trillion a day earlier. Of the total 325 traded scrips, 198 gained, 101 lost and 26 finished as unchanged.
The free-float KSE-30 index also gained 79.87 points to close at 13,070.42 points against the previous 12,990.55 points. P.T.C.L.A was the day’s volume leader counting its traded shares at 23.899 million with the opening and closing rates standing at Rs 16.38 and Rs 17.04, followed by Telecard Limited, Jahangir Siddiqui Company, Engro Foods Limited and Bank of Punjab with turnover of 18.992 million, 16.571 million, 11.397 million and 11.340 million shares respectively. On the future market, the turnover remains higher by over two million shares to 17.514 million against 15.047 million shares of last day.
The Rafhan MaizeXD and Bata Pakistan Limited, up Rs 92.99 and Rs 50.38, led highest price gainers while, Wyeth Pakistan Limited and ZIL Limited, down Rs 50.00 and Rs 5.27 respectively, led the losers.
