Bullish trend was witnessed at the Karachi share market on Wednesday on the back of continuous interest of foreign investors, and the KSE-100 index surged by 103.19 points to close at 10.523.01 points level. Healthy participation of both local and foreign investors was evident in improving trading activity, As a result, the volume at ready counter increased significantly to 300.746 million shares as compared to 244.706 million shares traded on Tuesday.
Market capitalisation increased by Rs 24 billion to Rs 2.976 trillion. Of 421 active scrips, 228 closed in positive and 174 in negative, while the value of 19 scrips remained unchanged. Lotte Pakistan was the overall volume leader with 64.669 and gained Re 0.55 to close at Rs 13.32. SilkBank increased by Re 0.85 to close at Rs 4.08 with 64.219 million shares. Azgard Nine lost Re 0.38 to close at Rs 12.06 with 14.796 million shares.
Byco Petroleum surged by Re 0.88 to close at Rs 13.30 with 11.018 million shares. WorldCall Telecom gained Re 0.29 to close at Rs 4.81 with 9.963 million shares. Arif Habib Sec increased by Rs 2.26 to close at Rs 47.50 with 9.697 million shares.
PTCL gained Re 0.35 to close at Rs 21.47 with 8.341 million shares. Jahangir Siddiqui Co increased by Re 0.22 to close at Rs 20.97 with 6.333 million shares. Fauji Fertiliser Bin Qasim surged by Re 0.27 to close at Rs 32.87 with 5.528 million shares. NBP closed at Rs 73.24 with a net gain of Rs 1.08 with 5.221 million shares.
Nestle Pak and Dreamworld were the highest gainers and increased by Rs 38.30 and Rs 28.00 to close at Rs 1338.30 and Rs 588.00 respectively, while Unilever Pakistan and Wyeth Pak were the worst losers and declined by Rs 115.75 and Rs 15.59 to close at Rs 3492.76 and Rs 1100.00 respectively.
Analysts said that the continuous interest of foreign investors and increasing oil prices in the international market invited healthy buying at the bourse and the index closed with healthy gains. Increasing trading activities showed interest of institutions and foreign investors. Local retail investors also joined the rally and the volume at ready counter significantly increased to 300 million shares and the index sustained the 10,500 points level.
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