KARACHI - Investors took keen interest at the bourse as State Bank decided to keep the policy rate unchanged in its latest Monetary Policy Statement (MPS). And this interest not only successfully pushed the index past psychological level of 27001, but even enabled it to sustain this level dealer observed here on Monday.
KSE bench mark 100 index up by 87.10 points or 0.32 percent to stop the trading at 27000 level compared to 26913.85 points of the last working day on Friday. Asad Siddiqui dealer at Topline Securities said Engro remained high on investors’ radar as it closed on its upper cap with 7.2m shares traded while interest was also seen in FCCL as dividend expectations with its upcoming result grow strong. On the other hand, banking sector scrips remained mixed due to no change in discount rate.
KSE-Allshare index up by 52.56 points or 0.26 percent to end the day at 20060.01 points, KSE-30 gained 43.39 points or 0.22 percent conclude at 19741.01 points and KMI-30 grew by 138.53 points or 0.31 percent to finish the activity at 44684.85 points.
Analyst at Ahsan Mehanti said stocks closed all-time high led by oil and fertilizer sector stocks on strong valuations. PM cancellation on Davos visit impacted the sentiments. ECC approvals on concessionary gas to Engro Fertilizers played a catalyst role in bullish activity despite concerns for security unrest in the country and US new conditions for release of $33m aid. The day turnover in term of shares was 266.599 million compared to 336.136 million shares of the previous session and the volume reduced to Rs 10.285 billion from Rs 11.123 billion while the capitalisation of the bourse settled at Rs 6.543 trillion after opening at Rs 6.526 trillion.
Trading took place in 404 companies where gainers out numbered the losers 232 to 156 while the value of 16 stocks remained intact. Wyeth Pak Ltd was the highest price gainer of the day up by Rs 224.99 to Rs 4725 followed by Nestle Pak up by Rs 179.99 to Rs 9399.99. Pak Tobacco and Philip Morris Pak were the biggest price losers of the day decreased by Rs 37.77 to Rs 717.70 and Rs 23 to Rs 452. Fauji Cement topped the active list with 19.010m shares as it closed at Rs 16.46 after opening at Rs 16.29. JS Co was on the second position with 13.607m shares off by Re 0.06 to Rs 12.17. It was followed by PIAC (A) with 13.506m shares added Re 0.34 to Rs 9.69, KESC with 13.392m shares shed by Re 0.14 to Rs 6.76 and Lafarge Pak with 11.140m shares misplaced by Re 0.16 to Rs 10.49.