Index gains 63.11 points

Bullish trend continued at Karachi share market on Friday, mainly on the back of strong interest of foreign investors, and KSE-100 index gained 63.11 points to close at 11,406.66 points. The offshore participants took fresh positions aggressively and a healthy single-day inflow of $10.46 million was witnessed.
Local investors also joined the rally and, after strong positive opening, the index hit 11,436.16 points intra-day high. Trading improved significantly and the volume at ready counter increased to 202.076 million shares as compared to 134.797 million shares traded on Thursday. Market capitalisation increased by Rs 19 billion to Rs 3.112 trillion.
Of the 362 active scrips, 220 closed in positive and 125 in negative, while the value of 17 scrips remained unchanged. Lotte Pakistan PTA was the volume leader with 32.852 million shares and gained Re 0.24 to close at Rs 12.83. Nishat Mills inched up by 0.40 to close at Rs 62.38 with 16.385 million shares. DG Khan Cement increased by Re 0.63 to close at Rs 31.05 with 14.338 million shares.
Bank Al Falah, NBP and UBL increased by Re 0.45, Rs 1.30 and Rs 1.48 to close at Rs 10.02, Rs 68.49 and Rs 61.96 with 11.316 million shares, 10.745 million shares and 5.151 million shares respectively. Jahangir Siddiqui Co gained Re 0.68 to close at Rs 13.18 with 11.052 million shares. Nishat Power inched up by Re 0.17 to close at Rs 15.77 with 8.279 million shares. Dewan Salman increased by Re 0.26 to close at Rs 2.23 with 7.452 million shares. Azgard Nine inched up by Re 0.11 to close at Rs 11.38 with 5.154 million shares.
Rafhan Maize and Wyeth Pak were the highest gainers increasing by Rs 92.67 and Rs 47.79 to close at Rs 1972.00 and Rs 1006.25 respectively, while Colgate Palmolive and Siemens Pak were the worst losers declining by Rs 41.96 and Rs 21.63 to close at Rs 852.00 and Rs 1300.00 respectively. Ahsan Mehanti at Arif Habib Investments said that bullish activity continued at the bourse with record volume witnessed in scrips across the board, led by banking, oil sector scrips, on strong foreign interest and record earnings outlook.
He said that rise in international oil prices over $88, bullish activity in global capital markets on economic optimism invited fresh buying throughout the session despite concerns over release of next IMF tranche for Pakistan economic support.