The KSE-100 index closed at its new high level of 15,078.19 on Thursday, with a net gain of 58.50 points on the back of strong interest of retail and foreign investors. The KSE-30 index surged by 62.63 points to close at its highest level of 18,644.48 points level.
The overall market capitalisation also reached its all-time high level of Rs 4.648 trillion, up by Rs 17 billion. Ready market volume declined to 325.539 million shares as compared to 396.419 million shares traded a day earlier. However, the futures market turnover increased to 82.033 million shares against 72.058 million shares on Wednesday.
Trading took place in 403 scrips, out of which 193 scrips closed in negative and 172 scrips closed in positive while the value of 38 scrips remained unchanged. Fauji Fertiliser Bin Qasim was the star performer of the day with 32.776 million shares and the scrip surged by Rs 1.45 to close at Rs 44.80.
Healthy buying was witnessed in banking sector, as Bank Alfalah and NBP increased by Rs 0.90 and Rs 4.65 to close at Rs 62.25 and Rs 272.90 with 32. 381 and 26.751 million shares respectively. BoP however declined by Rs 0.50 to close at Rs 105.50.
Nishat Mills gained Rs 3.25 to close at Rs 115.75. Bosicor Pakistan increased by Rs 0.45 to close at Rs 21.15. Engro Chemical surged by Rs 7.70 to close at Rs 323.00. Arif Habib Sec gained Rs 0.75 to close at Rs 0.75 to close at Rs 183.30. JOV & Co increased by Rs 3.70 to close at Rs 136.50. DG Khan Cement closed at Rs 109.30, up by Rs 0.35.
Unilever Pak Foods and Unilever were the highest gainers and gained Rs 81.10 and Rs 20.00 to close at Rs 1770.00 and Rs 2370.00 respectively while AKD Capital Limited and Bata (Pak) were the highest losers and lost Rs 48.50 and Rs 30.70 to close at Rs 922.40 and Rs 583.30 respectively.
Owais Siddiqui, Head of Research at JS Global Capital Limited said that the market has reached at new high level on the back of healthy buying by the local and foreign investors due to positive developments on political front in the country. The market participants are expecting stable political system in the country in the days to come.
They were also expecting that the next government will continue economic policies. The market witnessed across the board buying. Increasing oil prices in the international market invited buying in relevant stocks, increasing sales volume in cement and fertilisers also invited buying in the relevant stocks.
Ahsan Mehanti at Shehzad Chamdia Securities said that the market recovered on clearance on PTCL result over declared loss on expensing one time VSS costs. Strong interest received from Credit Suisse, Morgan Stanley, Templeton Asset Management on positive Pakistan market. The SCRA balances showing $104 million inflow reflecting strong foreign interest in banking scrips.
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