Index gains 76.11 points

The KSE-100 index on Monday gained 76.11 points to close at 12,560.28 points on the back of both local and foreign investors'' support. After positive opening, the index dropped in deep red at 12,388.24 points intra-day low level. But fresh buying after mid-session supported the index to recover its early losses to hit 12,593.97 points intra-day high.
Trading volume at ready counter rose t o57.263 million shares as compared to 34.689 million shares traded on last trading session. Market capitalisation increased by Rs 18 billion to Rs 3.303 trillion. Of 317 active scrips, 115 closed in positive and 108 in negative, while the values of 94 stocks remained unchanged. Lotte Pakistan PTA was the volume leader with 8.029 million shares. However, it lost Re 0.57 to close at Rs 12.96.
BoP, NBP and Bank Al Falah increased by Re 0.33, Rs 2.48 and Re 0.22 to close at Rs 6.33, Rs 53.31 and Rs 9.85 with 5.343 million shares, 4.851 million shares and 2.502 million shares respectively. Engro Corp lost Rs 1.32 to close at Rs 160.40 with 4.175 million shares, while Fatima Fertiliser decreased by Re 0.39 to close at Rs 16.19 with 1.934 million shares.
Hub Power gained Re 0.64 to close at Rs 38.48 with 2.108 million shares. Attock Refinery surged by Rs 3.46 to close at Rs 126.97 with 1.995 million shares. Nishat Mills increased by Rs 2.34 to close at Rs 52.81 with 1.975 million shares. Jahangir Siddiqui Co lost Re 0.05 to close at Rs 6.82 with 1.743 million shares.
Unilever Pak and National Refinery were the highest gainers, increasing by Rs 34.16 and Rs 13.39 to close at Rs 5288.38 and Rs 368.53 respectively, while Nestle Pakistan and Rafhan Maize were worst losers, declining by Rs 153.71 and Rs 115.17 to close at Rs 5361.29 and Rs 2560.61 respectively. Ahsan Mehanti at Arif Habib Investments said that bullish activity was witnessed ahead of fiscal year-end earnings announcements led by oil sector scrips on strong valuations.
He said that higher oil refinery margins, higher banking sector spreads, expectations for early release of $3.2 billion IMF tranche for Pakistan economic support and easing of circular debt concerns in the power sector played catalyst role in bullish sentiment at KSE.