Local investors and institutional interests on dips on Tuesday supported the KSE-100 to index to register healthy gains of 166.70 points to close above 11,000 points level at 11,070.58 points. The market opened on a strong positive note and the index remained in green throughout the session.
Trading improved and the volume at ready counter increased to 53.056 million shares as compared to 36.828 million shares traded on Monday. Market capitalisation increased by Rs 39 billion to Rs 2.934 trillion. Of 281 active scrips, 141 closed in positive and 62 in negative, while the values of 78 stocks remained unchanged.
NBP was the volume leader with 13.434 million shares and gained Re 0.79 to close at Rs 36.97. Bank Al Falah inched up by Re 0.17 to close at Rs 9.58 with 3.363 million shares. Lotte Pakistan PTA increased by Re 0.63 to close at Rs 11.70 with 7.938 million shares. Fauji Fertiliser Bin Qasim, Engro Corp and Fatima Fertiliser Company surged by Rs 2.14, Rs 5.62 and Re 0.30 to close at Rs 50.48, Rs 119.99 and Rs 16.30 with 6.019 million shares, 1.375 million shares and 1.212 million shares respectively.
Kot Addu Power gained Re 0.76 to close at Rs 43.55 with 1.388 million shares. WorldCall Telecom inched up by Re 0.16 to close at Rs 1.39 with 1.370 million shares. Nishat Mills increased by Rs 1.26 to close at Rs 45.58 with 1.199 million shares. TRG Pakistan closed at Rs 2.08, up Re 0.10 with 1.116 million shares.
Nestle Pakistan and Unilever Pak were highest gainers, increasing by Rs 116.12 and Rs 64.00 to close at Rs 3681.38 and Rs 5438.60 respectively, while Murree Brewery and Clover Pakistan were worst losers, declining by Rs 4.48 and Rs 2.70 to close at Rs 98.52 and Rs 60.00 respectively.
Ahsan Mehanti at Arif Habib Investments said that stocks closed broadly higher on the back of renewed institutional and local investors' interest in the oversold market, led by blue chips oil, fertiliser and banking sector scrips. He said that the sentiment remained positive on political stability post feared backlash after government minister resigned on Sunday amid allegations on coalition partners. "The recovery in global stocks and commodities led the bullish sentiment despite concerns for circular debt crises in Pakistan energy sector", he added.
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