KSE index surges by 67.21 points

The Karachi share market witnessed positive trend on Monday and KSE-100 index surged by 67.21 points to close at 7,538.49 points. Trading, however, remained low and the volume at ready counter was restricted to 127.032 million shares as compared to 181.544 million shares traded on Friday. Market capitalisation increased by Rs 18 billion to Rs 2.223 trillion.
Of 287 active scrips, 135 closed in positive and 131 in negative, while the value of 21 scrips remained unchanged. Jahangir Siddiqui Co was the volume leader with 17.898 million shares and gained Re. 0.88 to close at Rs 26.12. Fresh buying was seen in cement sector as DG Khan Cement and Lucky Cement increased by Re. 0.90 and Re. 0.27 to close at Rs 30.48 and Rs 64.30 with 17.675 million shares and 5.537 million shares respectively.
Arif Habib Sec surged by Re. 0.60 to close at Rs 29.69 with 11.597 million shares. Azgard Nine closed at Rs 26.16, up by Re. 0.69 with 8.403 million shares. OGDC surged by Rs 2.33 to close at Rs 86.24 with 8.218 million shares. Bank Al Falah and NBP increased by Re. 0.41 and Rs 1.87 to close at Rs 11.29 and Rs 73.22 with 6.302 million shares and 4.268 million shares respectively. PTCL gained Re. 0.27 to close at Rs 17.71 with 3.610 million shares. Attock Refinery lost Rs 1.18 to close at Rs 143.18 with 4.400 million shares.
Lakson Tobacco and Pak Services were the highest gainers and gained Rs 6.98 and Rs 6.16 to close at Rs 183.98 and Rs 130.50 respectively, while Fazal Textile and Wyeth Pak were the worst losers and lost Rs 19.25 and Rs 13.49 to close at Rs 365.75 and Rs 1259.00 respectively.
Ahsan Mehanti at Shehzad Chamdia Securities said that investors'' interest was witnessed near market close as brokers/members'' issues were amicably addressed by the Advisor to PM on Finance, Shaukat Tarin, and SECP officials on visit to KSE. Proposal on removal of withholding tax on sale of securities, minimal audit on FED collection and PTR adjustment against tax due was taken positive by both retail and institutional investors. The expectation of payout announcement by NIT, record payout expectation in fertiliser, oil scrips and continuing foreign interest in the market played a catalystic role for positive activity, he added.