The KSE remained bullish throughout the day with the KSE-100 index closing at intra-day high of 11,596.08 points, posting a net gain of 181.22 points on Thursday after the local and foreign investors injected fresh funds.
On the other hand the junior free float market capitalisation based KSE-30 index surged by 273.97 points to close at 14,484.51 points. Buying was seen in almost every sector including energy, cement and banking sectors as the ready market volume increased to 243.101 million shares as compared to 233.170 million shares and the future market turnover increased to 59.540 million shares against 55.233 million shares traded a day earlier.
Analysts said that the investor's confidence was increasing and they remained in good mood to upload stocks across the board. That held in improving the overall market capitalisation to Rs 3.159 trillion adding Rs 46 billion.
The plus sign dominated at KSE where 207 scrips closed in the positive column, 115 in negative while the value of 43 scrips remained unchanged with the total 365 active counters on board. Bulls made their presence felt at KSE, as the political disputes both at domestic level and internationally had been resolved.
BoP was the star performer of the day with 21.566 million shares and the scrip gained Rs 2.65 to close at Rs 93.60. Bank Al Falah, NBP and Askari Bank gained Rs 1.80, Rs 6.95 and Rs 1.30 to close at Rs 47.50, Rs 243.55 and Rs 83.25 respectively.
Healthy trading activity was also witnessed in cement sector as Lucky Cement, D. G. Khan Cement and Fauji Cement surged by Rs 0.10, Rs 0.25 and Rs 0.55 to close at Rs 86.80, Rs 92.75 and Rs 18.25 respectively.
The E&P sector also performed well as PPL and OGDC gained Rs 7.70 and Rs 1.30 to close at Rs 255.00 and Rs 118.85 respectively. In the other top ten volume leaders, Fauji Fertiliser Bin Qasim gained Rs 0.05 to close at Rs 33.20.
Indus Motor and Thal Limited were the highest gainers which gained Rs 12.60 and Rs 10.20 to close at Rs 264.60 and Rs 214.70 respectively. Fateh Textile and EFU Life Assurance were the highest losers shedding Rs 10 and Rs 9.85 to close at Rs 530 and Rs 290.15 respectively.
Salman Naqvi at Abba Ali Habib Securities said that investor's confidence is increasing following the positive political developments on both domestic and international. Across the board buying rally was witnessed especially in the banking and oil sectors. Foreign buying was seen in PPL and NBP. The SECP had clear those brokers involve in March 2005 stock market crisis after hearing and the conflict between Iran and England had also resolved that were positive signs for investors.
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