KARACHI - Stocks closed higher amid cautious activity by investors before Supreme Court reaction on NRO judgment implementation.
Institutional support witnessed in blue chip stocks in oil, banking and cement sector on improvement in Pak-US relations and speculations ahead of release of US Coalition Support Fund of $1.5b, he added.
KSE-Allshare index increased by 21.28 points or 0.21 percent to close the day at 10,129.69 points, KSE-30 share index marginally added 5.19 points or 0.04 percent to conclude the day at 12,492.03 points while KMI-30 share index slightly dropped 5.40 points or 0.02 percent to stop the day at 24,825.16 points.
Dealers said market initially rallied 100 points on the back of SECP’s visit to KSE however, uncertainty on political front forced investors to trim their gains. While KSE-100 index managed to close above 14,400 points mark. DGKC remained volume leader while healthy volumes also witnessed in E Foods, FCCL.
Market traded 109.104 million shares as compared to 80.603 million shares a day earlier and the value of traded shares was climbed to Rs 4.629 billion from Rs 2.372 billion. The stock market capitalisation settled at Rs 3.671 trillion as compared to Rs 3.663 trillion of the previous session.
Trading took place in 360 companies where gainers managed strong lead over the losers 163 to 109 while the values of 88 stocks remained intact.
Rafhan Maize Product and Nestle Pakistan Limited were the highest price gainers of the day increased by Rs 100.00 to Rs 3200.00 and Rs 91.50 to Rs 4104.00.
Major decline was seen in UniLever Pak down by Rs 185.19 to Rs 7213.50 followed by Sanofi-Aventis Pak off Rs 9.55 to Rs 184.50.
Dera Ghazi Khan Cement was the volume leader of the day on third consecutive day of trading week with 12.394 million shares as it closed at Rs 43.06 after opening at Rs 42.94 added Re 0.12. Engro Foods Limited was on the second position with 7.903 million shares off Rs 3.55 to Rs 69.86. It was followed by Fauji Cement with 5.508 million shares down by Re 0.1 to Rs 5.79, NIB Bank Limited with 5.478 million shares shed by Re 0.14 to Rs 2.19 and JS Co with 5.253 million shares lost Re 0.09 to Rs 14.23.