Karachi - Stocks closed higher with record trades after PM announced peace talks with TTP. With global markets still in distress, Pakistan bourse gained 177 points to close at 26,784 level.
Analyst Ahsan Mehanti said political patch up in Sindh province, renewed foreign interest and speculations ahead of CPI Inflation data due next week played a catalyst role in bullish activity at KSE.
Stock dealer Asad Siddqi said the week concluded with market shedding 219 points (1pc), the week started off with market seeing 332 point correction, and in the following couple of days, index consolidated at 26,600 levels. Regional and global markets remained under pressure.
This pressure pushed participation on the lower side as investors remained cautious. Average daily volumes fell 23pc to Rs8.8b as against Rs11.5b in the previous week. KSE-Allshare index grew by 79.74 points or 0.40 percent to end the day at 20244.31 points, KSE-30 share index added 144.88 points or 0.76 percent to close the session at 19296.75 points while KMI-30 up by 476.30 points or 1.09 percent to end the day at 44186.56 points.
The day turnover of market in term of shares was 346.571 million shares after opening at 344.285 million shares and the value of traded shares was climbed to Rs 12.109 billion from Rs 7.759 billion while the capitalisation of the market maintained at Rs 6.607 trillion compared to Rs 6.581 trillion of a day earlier. During the rally 408 companies exchanged hands where 208 closed in positive and 185 in negative while the value of 15 stocks remained intact. Highest price increased witnessed in Unilever Foods up by Rs 453.63 to Rs 9552.63 followed by Siemens PakistanXD up by Rs 64.40 to Rs 1352.40. Nestle Pak and Muree Brewery were the top losers of the day decreased by Rs 320 to Rs 12480 and Rs 41.77 to Rs 801.23.
Active list was topped by Bank of Punjab(R) with 53.305 million shares off by Re 0.03 to Rs 3.07. Fauji Cement was on the second position with 38.683 million shares extended by Re 0.59 to Rs 16.84. It was followed by Bank of Punjab with 24.774 million shares misplaced Re 0.33 to Rs 12.17, Maple Leaf Cement with 17.608 million shares up by Rs 1.23 to Rs 29.57 and Engro Fertilizer Ltd with 17 .304 million shares settled at Rs 48.25 without any change.