Index gains 83.08 points

Karachi share market supported by buying in oil, fertiliser and banking sector closed on a positive note on Thursday. The KSE-100 index gained 83.08 points to close at 11,435.67 points from 11,352.59 points. During the trading, KSE-100 index also hit intraday high level of 11,457.05 points and low level of 11,344.99 points.
However, despite heavy buying, the trading activity was thin as compared to Thursday. The volume at ready counter decreased to 44.561 million shares compared with 46.028 million shares traded a day earlier. Out of 318 active scrips, 133 closed in positive, 87 in negative while the value of 98 scrips remained unchanged. Market capitalisation increased by Rs 21.346 billion to Rs 2.966 trillion from Rs 2.945 trillion.
NIB Bank Limited was the volume leader with 8.704 million shares gaining Re 0.23 to close at Rs 1.72. WorldCall Telecom increased by Re 0.11 to close at Re 0.97 with 4.47 million shares. With 3.3 million trading, the share price of Fauji Fertiliser Bin Qasim down by Re 0.47 to Rs 44.19 per share. Dowood Hercules gained Re 0.75 to close at Rs 42.30 with 2.9 million shares.
Some 2.7 million shares of Bank of Punjab were traded on Thursday. BoP went up by Re 0.36 to Rs 5.56 per share. Hub Power Company gained Re 0.20 to Rs 34.70 with 2.2 million share trading. In addition, share price of Sui Southern Gas rose by Re 0.09 to close at Rs 19.55 with a trading volume of 2 million shares. With trading volume of 1.52 million, share price of Fatima Fertiliser increased by Re 0.37 to close at Rs 22.91. National Bank of Pakistan and Bank Al-Falah gained Re 0.61 and Re 0.15 to close at Rs 41.85 and Rs 11.33 with trading volume of 1.25 million and 1.24 million, respectively.
Nestle Pakistan and Siemens Pak were the top gainers with Rs 163.56 and Rs 16.54 to close at Rs 3,737.88 and Rs 1,007.35 respectively, while Al-Abbas Sugar and J D W Sugar were the worst losers with Rs 3.36 and Rs 2.54 to close at Rs 87.51 and Rs 75.46, respectively.
"Stocks turned bullish led by oil, banking and fertiliser scrips near the year-end close after reports that US might take action against Nato attackers on Pak-Army leading to improvement in Pak-US relations," said Ahsan Mehanti an analysts and Director Arif Habib Investments.
However, he said trade remained thin in the year-end rally and stocks managed to close near the session highs after global commodities'' rise. Easing political concerns and expectations for early resolution of CGT issue at KSE played a catalyst role in bullish sentiments despite concerns of hike in gas tariff and energy shortage in the country affecting industrial output, he added.