Index up 41.21 points

A positive trend was witnessed at the Karachi share market on Wednesday on the back of investors' interest in some selective stocks mainly in the banking, cement and energy sectors. The benchmark KSE-100 index increased by 41.21 points and closed at the level of 11,352.59 points.
Trading activities also improved, as the volumes at the ready counter increased to 46.028 million shares, as compared to 19.577 million shares traded on Tuesday. Total market capitalisation increased by Rs 11 billion to Rs 2.945 trillion. Of the total 314 active stocks, 104 closed in positive and 106 in negative, while the value of 104 scrips remained unchanged.
Hub Power Co was the volume leader with 13.817 million shares and gained Re 0.39 to close at Rs 34.50. Fatima Fertiliser Co lost Re 0.42 to close at Rs 22.54 with 5.193 million shares. In the other fertiliser sector stocks, Fauji Fertiliser Bin Qasim and Engro Corp declined by Re 0.64 and Re 0.56 to close at Rs 45.66 and Rs 97.41 with 1.434 million shares and 1.425 million shares, respectively. Dawood Hercules surged by Rs 1.97 to close at Rs 41.55 with 1.077 million shares.
Investors' interest was seen in the banking sector, as Bank of Khyber, BoP and NIB Bank increased by Re 1.00, Re 0.27 and Re 0.03 to close at Rs 5.40, Rs 5.20 and Rs 1.49 with 3.356 million shares, 2.043 million shares and 1.802 million shares, respectively.
Sui Southern Gas Co closed at Rs 19.46, up Re 0.01 with 2.026 million shares. Jahangir Siddiqui Co lost Re 0.05 to close at Rs 4.02 with 1.488 million shares. Nestle Pakistan and Unilever Pak were the highest gainers increasing by Rs 155.92 and Rs 80.23 to close at Rs 3274.32 and Rs 5729.85, respectively while Dreamworld and Indus Dyeing were the worst losers declining by Rs 18.00 and Rs 15.55 to close at Rs 527.00 and Rs 367.15, respectively.
Ahsan Mehanti at Arif Habib Investments said that the stocks closed positive at KSE led by oil, banking and energy stocks on strong valuations. He said that the investors remained bullish ahead of year-end close. Trade remained thin on absence of foreign investors on account of Christmas holidays. He said that the easing political concerns and expectation for early resolution of CGT issues at KSE played a catalyst role in positive close at KSE despite concerns for energy shortages in the country affecting industrial growth.