The local share market opened on a positive note and the KSE-100 index hit 12,483.48 points intra-day high level on the back of fresh foreign buying at lower level. However, the index could not sustain that level due to cautious stance of the local investors.
Finally the KSE-100 index settled at 12,430.16 points level, down by 3.06 some however the junior free float market capitalisation based KSE-30 index gained 16.48 points to close at its highest ever level of 15,552.06 points.
The market witnessed thin trading activity as the ready market volume declined to 309.078 million shares as compared with 369 million shares and the future market turnover decreased to 54.055 million shares against 62.429 million shares traded a day earlier.
The overall market capitalization declined by Rs 5 billion to Rs 3.614 trillion. Trading took place in 381 scrips out of which 192 scrips closed in negative column and 146 scrips closed in positive column while the value of 43 scrips remained unchanged.
Fauji Fertiliser Bin Qasim was the star performer of the day with 39.953 million shares and the scrip surged by Rs 1.50 to close at Rs 36.40 followed by Lucky Cement which gained Rs 1.55 to close at Rs 105.55 with a total volume of 30.621 million shares. DG Khan Cement surged by Rs 0.90 to close at Rs 100.50 however Pakistan Cement lost Rs 0.05 to close at Rs 12.80.
Profit taking was witnessed in E&P sector, as OGDC, PPL and POL declined by Rs 0.90, Rs 0.05 and Rs 2.00 to close at Rs 122.85, Rs 267.95 and Rs 350.50 respectively. The banking giant NBP surged by Rs 1.55 to close at Rs 250.90 however Bank Al Falah declined by Rs 1.05 to close at Rs 58.75. In the other top ten volume leaders, Azgard Nine gained Rs 1.40 to close at Rs 30.30.
Siemens Engineering and Fateh Textile were the highest gainers which gained Rs 64.75 and Rs 27 to close at Rs 1360.05 and Rs 567 respectively while Rafhan Bestfoods and Murree Brewery were the highest losers which lost Rs 38.95 and Rs 4.40 to close at Rs 741.10 and Rs 110.60 respectively.
Muhammad Sohail, a senior analyst and Director Equity Broking, JS Global Capital said that the KSE-100 witnessed resistance at 12,500 level as the local investors remained cautious to take positions. On the other hand, foreign buying was witnessed at lower level. The overall trend is still bullish, he noted.
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