Index gains 79.19 points

The KSE-100 index on Friday gained 79.19 points to close at 12,346.52 points on the back of investors' interest on dips. The market opened on a positive note and the index hit 12,412.65 points intra-day high level, up 195.32 points. However, profit taking in late hours minimised the intra-day gains.
Trading improved and the volume at ready counter increased to 69.234 million shares as compared to 25.316 million shares traded on Thursday. Market capitalisation increased by Rs 19 billion to Rs 3.250 trillion. Of 341 active scrips, 127 closed in positive and 114 in negative, while the values of 100 stocks remained unchanged.
PTCL was the volume leader with 11.401 million shares,.However, it lost Re 0.30 to close at Rs 13.08. Investors interest was seen in the fertiliser sector as Fauji Fertiliser Bin Qasim, Fauji Fertiliser Co and Fatima Fertiliser increased by Rs 1.42, Rs 6.13 and Re 0.69 to close at Rs 47.01, Rs 163.83 and Rs 16.41 with 8.892 million shares, 4.822 million shares and 3.298 million shares respectively. However, Engro Corp declined by Rs 4.52 to close at Rs 151.42 with 2.439 million shares.
Jahangir Siddiqui Co gained Re 0.09 to close at Rs 7.45 with 7.719 million shares. Lotte Pakistan PTA lost Re 0.30 to close at Rs 12.61 with 3.919 million shares. Azgard Nine decreased by Re 0.05 to close at Rs 5.86 with 2.146 million shares. Pace (Pak) lost Re 0.05 to close at Rs 2.06 with 1.943 million shares. Arif Habib Corp gained Re 1.00 to close at Rs 26.29 with 1.769 million shares.
Rafhan Maize and Nestle Pakistan were highest gainers, increasing by Rs 94.29 and Rs 75.79 to close at Rs 2595.25 and Rs 4395.80 respectively, while Unilever Pak and Indus Dyeing were the worst losers, declining by Rs 60.19 and Rs 15.90 to close at Rs 5938.48 and Rs 331.05 respectively. Ahsan Mehanti at Arif Habib Investments said that bullish activity was witnessed in the earning announcement session in scrips across the board, led by oil and fertiliser sector scrips.
He said that institutional interest on strong valuations after US assurance for economic support to Pakistan and return of peace in Karachi on political reconciliation in late afternoon on Thursday played a catalyst role in bullish sentiment at KSE as investors await major corporate earning announcements next week.