The Karachi share market started on positive note and the KSE-100 index recovered another 63.13 points to close at 11,374.03 points while the KSE-30 index gained 53.44 points to close at 14,252.58 points on Friday.
The market opened on a bullish note and at one time the KSE-100 index hit 11,438.71 points intra-day high level however the index could not sustain at that level after witnessing selling in selective scrips and hit 11,310.90 point intra-day low level.
Trading activity remained dull as compared with Thursday's as the ready market volume shrank to 146.778 million shares against 172.526 million shares traded a day earlier. However future market turnover increased to 53.809 million shares against 51.674 million shares a day earlier. The overall market capitalisation increased by Rs 16 billion to Rs 3.102 trillion. Trading took place in 304 scrips out of which 141 scrips closed in positive and 126 scrips closed in negative while the value of 37 scrips remained unchanged.
Fauji Fertiliser Bin Qasim was the overall volume leader of the day with 18.542 million shares however the scrips closed at Rs 31.50, down by Rs 0.65. interestingly Azgard Nine performed well and gained Rs 0.45 to close at Rs 24.90 with 8.859 million shares.
In E&P sector PPL surged by Rs 2.60 to close at Rs 252.50 while OGDC closed at Rs 117.65, down by Rs 0.35. WorlCall Telecom gained Rs 0.35 to close at Rs 11.70. PSO also performed well and gained Rs 14.35 to close at Rs 370.65.
In banking sector, Bank Al Falah surged by Rs 1.40 to close at Rs 60 while JS Bank gained Rs 0.25 to close at Rs 16. In the other top ten volume leaders, Kot Addu Power gained Rs 0.70 to close at Rs 57.10 however Lucky Cement closed at Rs 77.75, down by Rs 1.05.
Wyeth Pak and PSO were the highest gainers which gained Rs 65.20 and Rs 14.35 to close at Rs 1798.00 and Rs 370.65 respectively while Bata (Pak) and Javedan Cement were the top losers and closed at Rs 220.50 and Rs 98.75, down by Rs 7.50 and Rs 5.15 respectively. Ahsan Mehanti, CEO of Shehzad Chamdia said that the main reasons for positive closed were including institutional support in an oversold market, recovery in global stock markets and SCRA balances on higher side at $616 million.
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