KARACHI - Equity closed bullish as local institutional buying in blue chip stocks helped index to post a strong recovery.
Samar Iqbal equity dealer at KSE said investors were also optimistic after news report that US may resume Pakistan aid. Volume stood at 114 million shares with PTC witnesses 16.5 million shares and closed by Rs 0.76. 221 companies closed in green while only 52 declined.
KSE-Allshare index added 196.21 points or 2.08 percent to close the day at 9,618.54 points, KSE-30 share index enlarged 300.97 points or 2.62 percent to end the day at 11,800.47 points while KMI-30 share index amplified 478.91 points or 2.07 percent to lock the day at 23,636.51 points.
Analyst said World Bank forecast on firm recovery in Pak economic growth, EU trade concessions on Pak exports played a catalyst role in bullish sentiments in stocks across the board despite concerns for fall in global stocks and commodities.
Trading took place in 367 stocks where gainers held a strong lead over the losers 222 to 52 while the values of 93 stocks remained intact. Bourse traded 114.327 million shares after opening at 77.658 million shares and the value of trading shares was Rs 4.303 billion as compared to the Rs 3.464 billion of previous session.
Active list was topped by PTCLA with 16.452 million shares as it close at Rs 14.60 after opening at Rs 13.84 increased Re 0.86. DGK Cement was on the second position with 8.252 million shares up Rs 1.88 to Rs 41.63. It was followed by Lucky Cement with 7.053 million shares increased Rs 2.33 to Rs 118.05, JS.Co with 6.639 million shares enlarged Re 0.24 to Rs 14.01 and Engro Corporation with 5.243 million shares up Rs 4.49 to Rs 106.62.
Rafhan Maize Prod and Colgate Palmolive were the highest price gainers of the day increased by Rs 123.38 to Rs 3250.09 and Rs 24.99 to Rs 974.00 while the top losers were led by Nestle Pakistan Ltd and Mehmood Tex decreased by Rs 36.41 to Rs 4016.28 and 2.26 to Rs 102.00 respectively.
APP adds from Islamabad: Islamabad Stock Exchange on Thursday witnessed bullish trend as the index gained 66.99 points to close at 2692.23.
Talking to APP, stock analyst Zaheer Ahmed said that the oil and fertilizer sectors caused the positive sentiments in the local stock markets because of the major positions taken in the markets by the investors. He said that the turnover in the markets had also registered a substantial the rise which was positive sign for longterm investment.
Total volume of shares traded was 7,117, which was up by 4,017 as compared to a day earlier's trading. Out of 110 companies's shares traded, the prices of 110 increased while the prices of 14 decreased. The price top gainer MCB Bank increased by Rs.7.62 while the price top loser Searl pakistan deceased by Rs.1.18. Lafrage Pakistan Cement, Bank of Punjab and Byco Petroleum remained volume leaders on Thursday, with volumes of 3,117, 2,000 and 1,000 shares respectively.