KARACHI - Stocks closed bullish owing to positive sentiments on surplus current account balance of $1.2b for August ‘12 and Supreme Court gave government time to draft letter under NRO Implementation case. Investors’ interest was witnessed in stocks across the board on strong valuations.
KSE-100 share index added 71.47 points or 0.46 percent to close the trading session at 15,588.66 points as compared to 15,517.19 points of the last working day.
Analyst Ahsan Mehanti at Arif Habib said new EU trade waiver on Pakistan exports, easing concerns on circular debt issue and speculations ahead of implementation of International Clearing House mechanism for telecom sector played a catalyst role in bullish sentiments despite concerns for security concerns in the city on anti-film protests. KSE-Allshare index up by 47.66 points or 0.44 percent to stop the day at 10,992.97 points, KSE-30 share index marginally gained 5.14 points or 0.04 percent to end the day at 13,177.78 points while KMI-30 share index increased by 78.33 points or 0.28 to settled at 27,613.76 points.
Equity dealers observed with continued buying interest in oil stocks KSE-100 index managed to close near to 15,600 points level. Follow-up buying after healthy full year dividend announcement in POL helped it gained Rs.7.6 at close while OGDC added 25 points in index gain. Volumes remained constraint in mid cap stocks with PTC led the volume followed by JSCL and NIB.
Market traded 131.865 million shares after opening at 128.678 million shares and the value of traded shares was jumped to Rs 5.341 billion as compared to Rs 4.529 billion of a day earlier. Bourse capitalisation settled at Rs 3.948 trillion from Rs 3.941 trillion.
Trading took place in 333 companies where gainers out numbered the losers 171 to 140 while the values of 22 stocks remained intact. Rafhan Maize Prod was the biggest loser of the day shed by Rs 173.56 to Rs 4451.44 followed by Siemens Pakistan down by Rs 22.11 to Rs 919.07. The top price gainers of the day were led by Mithchells Fruit and Island Textile up by Rs 10 to Rs 331 and Rs 7.90 to Rs 280 respectively. Active list was topped by PTCLA with 9.943 million shares added Re 0.32 end at Rs 19.87. JS Company was on the second position with 8.635 million shares up by Re 0.22 to finish at Rs 14.06. It was followed by NIB Bank Limited with 8.600 million shares higher by Re 0.16 to Rs 2.64, Engro Corporation with 7.428 million shares up by Re 0.31 to close at Rs 108.16 and Fatima Fertilizer Company with 6.586 million shares increased by Re 0.13 to stop at Rs 24.42 points.