Index gains 11.85 points

The KSE-100 index on Tuesday gained 11.85 points and closed at 12,261.85 points on the back of local investors'' support. The market opened on a strong positive note, and the index hit 12,346.09 points intra-day high level, and remained in the positive zone throughout the session. However, profits-taking in late hours reduced the early gains.
Trading improved significantly and the volume at ready counter increased to 148.203 million shares as compared to 116.090 million shares of Monday. Market capitalisation increased by Rs 2 billion to Rs 3.193 trillion. Of 332 active stocks, 134 closed in positive and 127 in negative, while the value of 71 stocks remained unchanged.
Jahangir Siddiqui Co was the volume leader with 26.141 million shares and gained Re 0.05 to close at Rs 8.52. Azgard Nine lost Re 0.20 to close at Rs 5.73 with 12.651 million shares. Cherat Cement declined by Re 0.56 to close at Rs 13.23 with 8.013 million shares. Fauji Cement closed at previous day''s closing level of Rs 4.56, without any change, with 6.424 million shares trading. DG Khan Cement increased by Re 0.22 to close at Rs 24.79 with 5.083 million shares. Lafarge Pakistan lost Re 0.02 to close at Rs 2.20 with 4.143 million shares.
SilkBank and BoP increased by Re 0.20 and Re 0.23 to close at Rs 2.19 and Rs 6.51 with 7.912 million shares and 3.764 million shares respectively. Pace (Pak) inched up by Re 0.19 to close at Rs 1.79 with 7.093 million shares. Fatima Fert gained Re 0.20 to close at Rs 22.70 with 6.122 million shares. Unilever Pak and Bata (Pak) were highest gainers by Rs 35.73 and Rs 28.72 to close at Rs 5589.20 and Rs 727.72 respectively, while Nestle Pakistan and Unilever Foods were worst losers by Rs 40.48 and Rs 27.89 to close at Rs 3247.28 and Rs 1722.11 respectively.
Ahsan Mehanti at Arif Habib Corp said that the stocks closed higher at KSE ahead of major earning announcements this week. The investors remained cautious on uncertain political outlook after Supreme Court bench framed charges against PM Gilani for non-compliance on NRO implementation. Trading focus remained in the second- and third-tier stocks. Institutional support on strong valuations in banks, fertiliser and oil stocks played a catalyst role in bullish sentiment in the earnings announcement session at KSE. He said that the investors remained hopeful ahead of formal notification on CGT issues at KSE.