At the Karachi Stock Exchange, the benchmark KSE 100-share index gained 106.45 points or 0.76 per cent to finish the day at 14,031.51 points as compared to 13,925.06 points of the last working day i.e. Friday.
Experts said renewed foreign interest in oil & banking stocks, expectations for early resolution of NATO supply issue leading to release of US military aid to Pakistan, recovery in global stocks and commodities played a catalyst role in bullish sentiments despite concerns over rising political uncertainty.
KSE Allshare-index added 77.98 points or 0.80 per cent to stop the day at 9,880.00 points, KSE 30-share index gained 148.93 points or 1.23 percent to end the day at 12239.13 points while KMI 30-share index increased by 256.62 points or 1.06 percent to conclude the trading session at 24376.97 points.
A dealer said, “Led by institutional buying in cement and fertilizer stocks, market rallied to close above the 14,000 points mark. DGKC with volume of 24 million shares attracted investors’ attention ahead of the federal budget that may provide more incentive to cement and construction sector. After many dull sessions NBP also rallied due to institutional support.”
Market traded 181.329 million shares after opening at 165.289 million shares and the value of trading shares was Rs 5.725 billion as compared to Rs 5.435 billion of the last trading session. Trading took place in 369 companies where gainers outnumbered the losers by 191 to 108 while the values of 70 stocks remained intact.
D.G.K.Cement was the top traded company of the day with 23.798 million shares as it closed at Rs 43.90 after opening at Rs 42.77, gained Rs 1.13. It was followed by JS Bank Ltd, Bankislami Pakistan, TRG Pakistan Ltd and WorldCall Telecom with turnover of 12.741 million, 11.839 million, 10.310 million and 9.839 million shares respectively.
Mithchells Fruit and National Refinery were the biggest price gainers of the day, increased by Rs 13.65 and Rs 10.84, while the top losers were led by RafhanMaizeXD and UniLever PakXD, down by Rs 139.12 and Rs 133.75.
APP adds from Islamabad: Islamabad Stock Exchange on Monday witnessed bullish trend as the ISE 10-index gained 35.77 points to close at 2832.55 points.
Talking to APP, stock analyst Zaheer Ahmed said that the prevailing positive sentiments in oil, cement and sectors led the bullish rally in the local stock markets. He said that the most traded shares in the markets were DG Khan Cement, PSO, Attock Petroleum, Engro Corporation and National Refinery. Besides, the investors also took positions in the low-priced shares including Bank of Punjab and Byco Petroleum but the volume was low.
Total volume of shares traded was 36,702, which was down by 143,298 as compared to a day earlier’s closing. Out of 133 companies shares traded, the prices of 81 increased while the prices of 52 decreased. The price of top gainer Mitchell Fruit Farma increased by Rs.13.76. Bank of Punjab, PTCL and DG Khan Cement remained volume leaders on Monday, with volumes of 24,000, 10,002 and 2,000 shares respectively.