KARACHI - Stocks closed all time high on higher trades led by blue chip energy stocks after ADB approves $167m loan for Discos.
At local equity market benchmark KSE-100 share index posted a fresh gain of 174.26 points or 0.69pc to end the day at 25524.46 points compared to 25350.20 points of the previous day. Ahsan Mehanti said rising oil refinery margins, new production in Tal Block and rising local cement prices played a catalyst role in bullish activity at KSE. ECC approval on PM’s directive for diversion of gas supply to textile units and EU grant on GSP plus status to Pakistan textile exports impacted the sentiments amid concerns for security unrest in the city.
KSE-Allshare index added 116.52 points or 0.62 percent to finish the session at 18811.30 points, KSE-30 share index increased by 124.52 points or 0.66 percent to stop the trading at 19058.04 points while KMI-30share index up by 329.24 points or 0.77 percent to end the day at 42888.45 points. Market traded 274.146 million shares after opening at 259.177 million shares and the value of traded shares was climbed to Rs 11.274 billion from Rs 10.421 while the capitalisation of the market maintained at Rs 6.118 trillion compared to Rs 6.081 trillion of a day earlier. Dealer at Topline Asad Siddiqui said with volumes at KSE improved by 8pc to Rs11.3b. Renewed interest was seen in scrips like PSO, FCCL and FFBL all of which experienced profit-taking yesterday.
Moreover, rumours regarding Etisalat team visiting Pakistan to discuss PTC’s property situation led investors’ interest in PTC while banking sector continued to be in the limelight.
With trade of 17.8m shares PTC topped the volume charts followed by FCCL whose 16.6m shares were traded while with 14.8m shares exchanging hands JSCL completed the top 3 volume leaders. Rafhan Maize led the downhill trend decreased by Rs 300 to Rs 7700 followed by Khyber Tobacco down by Rs 13.50 to Rs 264. Siemens Pakistan and Island Textile were the biggest day price gainers increased by Rs 68.32 to Rs 1458.75 and Rs 54.84 to Rs 1151.82. Active list was topped by PTCLA with 17.831 million shares shed by Re 0.09 to Rs 31.70. Fauji Cement was on the second position with 16.609 million shares as it closed at Rs 14.65 after opening at Rs 14.49. It was followed by JS Co with 14.839 million shares up by Re 0.22 to Rs 9.46, National Bank with 12.930 million shares grew by Re 1.25 to Rs 59.45 and Faysal Bank with 12.845 million shares off by Re 0.22 to Rs 11.48.