Bull-run continued on Pakistan Stock Exchange where the KSE-100 index rose by 123 points to 32,084 compared to the previous 31,961 points. The benchmark index showed volatility as was seen in its movement between the intraday high and low of 32,182 points and 31,777 points. Trading turnover ended higher at 147 million shares worth Rs 8.01 billion from Tuesday''s Rs 8.58 billion. Of the 334 scrips traded, 192 posted gains, 121 lost their worth while 21 remained unchanged.
The market cap inched up to Rs 6.78 trillion as foreign investment settled in the green marking a net buying of $117,878. Pak Elektron led volumes with 8.3 million shares. It rose to Rs 64.67 in value. Other best performing issues were Dewan Cement, Dewan Salman, JSCL, PIA, Fauji Cement, TRG Pakistan, K-Electric, Bank of Punjab and Tri-Star Power.
Futures trade declined to 22 million contracts from 23.7 million of last session. "Stocks closed higher led by second- and third-tier leveraged scrips on speculations ahead of earning announcements this week," Ahsan Mehanti of Arif Habib Corp said.
The analyst said institutional support remained in banking and cement stocks on strong financial results and hopes for positive outcome of Pak-IMF talks in the 10th Review under the Extended Fund Facility. The positives overshadowed negatives like falling crude prices, weak global equities and exports. "The... index marked its 9th consecutive positive session," Topline analyst said.
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