KARACHI - The benchmark KSE-100 index crossed 14,100 points mark after 6 weeks with major activity was witnessed in fertilizer and cement stocks. Market closed bullish with investor’s interest in stocks across the board as Pak-US near resolution on NATO supply routes, experts observed here on Monday.
The Karachi stock market benchmark KSE-100 share posted a fresh gain of 341.51 points or 2.47 percent to stop the day’s trading at 14,142.92 points as compared to the 13,801.41 points of the last working day on Friday.
Analyst Ahsan Mehanti said recovery in global stocks and commodities and expectations for flow-in of foreign portfolio investment on improvement in Pak-US ties played a catalyst role in bullish sentiments ahead of earning announcements due next week.
KSE-Allshare index added 227.47 points or 2.34 percent to close the day at 9,935.78 points, KSE-30 share index increased 324.78 points or 2.72 percent to finish the trading session at 12,246.91 points while KMI-30 share index higher by 526.68 points or 2.22 percent to conclude the day at 24,303.16 points.
Equity dealer Samar Iqbal said amid recovery in international equity and commodity markets coupled with positive developments in Pak-US relationship created across the board buying spree in the local market. Amid increase in international oil prices, oil stocks also remained supportive to the index where OGDC alone contributed more than 100 points.
Market traded 106.453 million shares after opening at 74.047 million shares and the value of traded shares was rose to Rs 4.943 billion from 3.038 billion. The capitalisation of stock market settled at Rs 3.600 trillion after opening at Rs 3.518 trillion.
Trading took place in 332 companies where gainers held a strong lead over the losers 178 to 78 while the values of 76 stocks remained intact. Unilever Food and Nestle Pakistan Limited were the highest price gainers of the day increased by Rs 78.61 to Rs 2698.00 and Rs 61.29 to Rs 4076.14. Island Textile and Tri-Pack Films were the top losers of the day decreased by Rs 9.87 to Rs 197.20 and Rs 2.99 to Rs 207.00.
Fauji Fertilizer was the top traded company of the day with 13.438 million shares up by Rs 2.89 to Rs 113.94. JS.Co was on the second position with 9.650 million shares higher by Re 1 to Rs 13.41. It was followed by DGK Cement with 8.496 million shares gained Rs 1.9 to Rs 41.28, Lucky Cement with 4.725 million shares grow by Rs 4.19 to Rs 119.58, Fatima Fertilizer Company with 4.094 million shares augmented Re 0.56 to Rs 25.23, National Bank Pak with 3.718 million shares up Rs 1.64 to Rs 45.18, PTCLA with 3.675 million shares increased Re 0.65 to Rs 14.34, Azgard Nine with 3.669 million shares up Re 0.47 to Rs 6.8, Engro Foods Limited with 3.004 million shares rose Rs 1.02 to Rs 65.47 and Fauji Cement with 2.888 million shares extended Re 0.11 to Rs 5.74.