The KSE-100 index witnessed a healthy single day increase of 385.68 points to close at 13,737.47 points' level on Monday on the back of positive developments on political front. The KSE-30 index surged by 593.60 points to close at 16,776.69 points' level.
The market took the Supreme Court verdict on dual offices of President Pervez Musharraf and acceptance of his nomination papers for the upcoming presidential elections as positive development, which pushed the index up by 208 points.
The market witnessed healthy trading activity as the ready market volume increased to 316.471 million shares as compared to 163.471 million shares traded on Friday. The futures market turnover, however, declined to 50.742 million shares against 74.715 million shares previously.
The overall market capitalisation surged by Rs 110 billion to Rs 4.211 trillion. Trading took place in 367 scrips, out of which 251 scrips closed in positive and 75 in negative, while the value of 41 scrips remained unchanged.
DG Khan Cement was the star performer of the day with 21.705 million shares and the scrip surged by Rs 3.65 to close at Rs 113.65 followed by Lucky Cement, which increased by Rs 6.05 to close at Rs 134.30 with a total volume of 21.343 million shares.
Healthy activity was witnessed in oil sector as the Oil and Gas Development Company (OGDC), Pakistan Petroleum Limited (PPL) and Pakistan Oilfields Limited (POL) gained Rs 3.50, Rs 6.10, 13.45 to close at Rs 118.50, Rs 272.10 and Rs 322.95 respectively.
The banking sector also remained active as National Bank of Pakistan (NBP) and Bank Al Falah gained Rs 12.20 and Rs 1.65 to close at Rs 51.15. Fauji Fertiliser Bin Qasim increased by Rs 1.20 to close at Rs 45.50. While Engro Chemical gained Rs 5.70 to close at Rs 265.60, WorldCall Telecom was the only scrip in the top 10 volume leaders, which closed in negative at Rs 20.10, down by Rs 0.60.
Siemens and Nestle Pakistan were the highest gainers, with Rs 59 and Rs 49 gains to close at Rs 1,748 and Rs 1,549 respectively, while Unilever and Colgate Palmolive were the highest losers. They lost Rs 35 and Rs 16.50 to close at Rs 2,425 and Rs 462 respectively.
Ahsan Mehanti at Shehzad Chamdia Securities said that the share witnessed a bullish session on Monday. The market witnessed across the board fresh buying after the Supreme Court's verdict regarding dual offices hold by President Pervez Musharraf. The market participants took the SC verdict positive and took fresh positions. On the other hand, increasing oil prices in the international market was also a positive sign, which invited more buying in the relevant stocks.
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