Index up 31.32 points

Positive trend was observed at Karachi share market on Monday on the back of foreign investors' support, as a result of which the KSE-100 index gained 31.32 points to close at 10,447.84 points level. The market opened on a positive note and the index hit 10,492.98 points level, up 76.46 points. However, the news regarding Peshawar bomb blast forced the investors to offload their holdings and the index dropped into negative zone to reach 10,404.03 points intra-day low.
Trading improved and the volume at ready counter increased to 222.521 million shares as compared to 205.629 million shares traded on Friday. Market capitalisation increased by Rs 5 billion to Rs 2.956 trillion. Of 444 active scrips, 244 closed in negative and 179 in positive, while the value of 21 scrips remained unchanged.
Lotte Pakistan was the volume leader with 65.794 million shares and gained Re 0.95 to close at Rs 12.12. Azgard Nine lost Re 0.78 to close at Rs 12.88 with 13.383 million shares. TRG Pakistan inched up by Re 0.01 to close at Rs 4.22 with 12.698 million shares.
Arif Habib Sec surged by Rs 2.18 to close at Rs 46.39 with 10.631 million shares. Bank Al Falah increased by Re 0.23 to close at Rs 12.73 with 9.695 million shares. PTCL gained Re 0.04 to close at Rs 21.35 with 7.098 million shares.
OGDC lost Re 0.39 to close at Rs 131.86 with 5.946 million shares. Jahangir Siddiqui Co declined by Re 0.34 to close at Rs 21.23 with 5.698 million shares. Adamjee Insurance surged by Rs 2.55 to close at Rs 128.20 with 4.505 million shares. Nishat Mills gained Re 0.06 to close at Rs 16.11 with 3.916 million shares.
Unilever Food and Colgate Palmolive were the highest gainers and increased by Rs 45.00 and Rs 21.80 to close at Rs 1135.00 and Rs 457.80 respectively, while Siemens Pak and Unilever Pakistan were the worst losers and declined by Rs 66.98 and Rs 34.82 to close at Rs 1278.09 and Rs 3700.43 respectively.
Hasnain Asghar Ali at Aziz Fidahusein Co said that due to huge foreign inflows and rising trend in oil prices in the international market the index continued the forward march. Across the board gains attained through the activity of local corporate, however, failed to sustain due to absence of follow-up support, thereby allowing stagnation to re-surface. Likely re-promulgation of CCP Ordinance kept the main board cement stocks under pressure, while renewed buying by local participants and respective groups invited buying interest in fertiliser stocks, on dips.
He said that low priced stocks, along with securities companies, kept the turnover ticking, thus keeping the day-traders active in the market. Nervousness due to various economic, political and upcoming budget phobia kept the cautious attitude alive, thus keeping the turnover on lower side, despite substantial contribution by low priced stocks.
The terrorist attacks in northern parts of the country did invite panic sell-off, mainly by the day-traders. Dips, however, continued to invite accumulation, thus keeping life of red-marks limited at the local bourse, since the index heavyweights came into play.