Index gains 17.96 points

The Karachi share market on Monday witnessed a positive trend throughout the session on the back of investors' interest in some index heavyweight stocks. After positive opening, the KSE-100 index hit 13,943.36 points intra-day high. However, profit taking in late hours minimised the intra-day gains and the index finally closed at 13,875.74 points with a net gain of 17.96 points.
Trading activities remained very low as the volumes at ready counter declined to 81.448 million shares as compared to 175.707 million shares traded on last trading session. Total market capitalisation increased by rupees five billion to Rs 3.544 trillion. Of the total 361 active stocks, 143 closed in negative and 139 in positive while the value of 79 stocks remained unchanged.
JS Bank was the volume leader with 10.72 million shares and gained Re 0.6 to close at Rs 5.8, while Jahangir Siddiqui Co lost Re 0.23 to close at Rs 16.34 with 8.07 million shares and DG Khan Cement closed at Rs 40.28, down Re 0.21 with 7.217 million shares.
Bankislami Pakistan declined by Re 0.72 to close at Rs 10.11 with 6.841 million shares. Engro Foods increased by Re 0.88 to close at Rs 65.63 with 3.403 million shares. Engro Corporation surged by Rs 1.49 to close at Rs 100.22 with 3.316 million shares. Byco Petroleum decreased by Re 0.44 to close at Rs 9.85 with 2.953 million shares. Azgard Nine lost Re 0.2 to close at Rs 6.8 with 2.507 million shares. Lotte Pakistan PTA closed at Rs 8.38, down Re 0.14 with 2.341 million shares. PTCL declined by Re 0.33 to close at Rs 15.16 with 2.063 million shares.
Mithchells Fruit and Wyeth Pak were the top gainers increasing by Rs 10.73 and Rs 10 to close at Rs 225.49 and Rs 780 respectively, while Rafhan Maize and Dreamworld were the top losers declining by Rs 72.82 and Rs 21.15 to close at Rs 2827.18 and Rs 470 respectively.
Ahsan Mehanti at Arif Habib Corporation said that Pakistan stocks closed higher amid thin trades as investors remained cautious ahead of federal budget announcements due next month. He said fall in global commodities and stocks affected the sentiments despite foreign interest in banking and oil sector stocks. Trading remained in narrow range as investors awaited announcements on military aid to Pakistan during President's visit for Chicago conference amid hopes for improvement in Pak-US relations on resumption of Nato supplies, he added.