Index gains 64.46 points

The Karachi share market on Wednesday witnessed a positive trend on the back of investors' interest on attractive low levels and the benchmark KSE-100 index gained 64.46 points to close at 15,278.48 points. The market opened on strong positive note and the index breached 15,300 psychological level to hit 15,309.76 points intra-day high level.
Trading activities also improved as the volumes at ready counter increased to 176.332 million shares as compared to 153.578 million shares traded on Tuesday. Total market capitalisation increased by Rs 15 billion to Rs 3.892 trillion. Of the total 318 active stocks, 157 closed in positive and 144 in negative while the value of 17 stocks remained unchanged.
PTCL was the volume leader with 29.957 million shares however lost Re 0.25 to close at Rs 18.56 followed by KESC that decreased by Re 0.32 to close at Rs 7.18 with 18.986 million shares. Pace (Pak) Limited gained Re 0.21 to close at Rs 3.62 with 16.891 million shares. Hub Power Co increased by Rs 1.41 to close at Rs 49.59 with 12.958 million shares. Nishat Mills surged by Rs 1.46 to close at Rs 57.45 with 5.569 million shares.
In the cement sector, Maple Leaf Cement and DG Khan Cement gained Re 0.12 and Re 0.44 to close at Rs 9.16 and Rs 48.83 with 5.413 million shares and 4.69 million shares respectively. WorldCall Telecom lost Re 0.17 to close at Rs 2.94 with 5.103 million shares. Telecard Limited decreased by Re 0.09 to close at Rs 3.11 with 4.733 million shares. Jahangir Siddiqui Co closed at Rs 13.98, down Re 0.10 with 3.258 million shares.
Siemens Pakistan and Shezan Inter were the top gainers increasing by Rs 40 and Rs 11.58 to close at Rs 940 and Rs 243.25 respectively, while Bata (Pak) Limited and Abbott Lab were the top losers declining by Rs 50 and Rs 10.38 to close at Rs 950 and Rs 197.44 respectively.
Samar Iqbal at Topline Securities said that local bourse witnessed positive trend and the rally was mainly led by oil sector. The heavy weight OGDC alone contributed 42 points in follow up buying of TFC issue announcement while POL also rose by four rupees after testing appraisals from MOL. Hubco also remained on investors' radar as 12.9 million shares exchanged hands with stock price gained by three percent. Traded volume however remained constraint towards mid-cap stocks with PTC topped the volume followed b KESC and Pace Pakistan.