Karachi Stock Exchange (KSE) Monday set a fresh record on the first day of new week as the benchmark-100 share index hit all-time high level of 18,272.11, gaining 228.80 points or 1.27 percent. Commenting on the market performance, Zafar Moti, senior member KSE and Chairman ZMC Securities told Business Recorder that the local bourse witnessed "good opening" as buying was witnessed in energy and cement sector mostly.
He said investors regained confidence with smooth process of nomination papers submissions...they are taking interest in investment and hopefully the share market would maintain this positive opening in future also. Samar Iqbal, a technical analyst at Topline Securities said with nomination paper submission process over, investor confidence has improved and the local bourse crossed 18,270 points mark for the first time ever.
"Pre-result mania coupled with lower CPI also helped keep the interest alive. With healthy volumes of 171 million shares investors' interest was seen mainly in oil, fertiliser and cement stocks," she added. Ahsan Mehanti, a technical analyst at Arif Habib Corp said stocks closed record high with investor interest in stocks across-the-board ahead of quarter end earning announcements after oil marketing companies margins raised up to 13pc on oil products pushing up valuations in OMC sector.
On Monday, the local bourse opened in green zone and remained on same note till the end of the session. The KSE-100 index touched ever highest level of 18,327.30 points during the intra-day trading. Market capitalisation climbed by Rs 37.73 billion, closed at Rs 4.484 trillion from Rs 4.446 trillion while the trading side could not witness same situation and the turnover closed at 171.013 million against 204.391 million shares.
Overall, 214 companies witnessed increase in their share prices of the total 332 active scrips while 98 lost their worth and that of 20 remained unchanged. Unilever Pak and Unilever Food were the top gainers of the day. Their share prices increased by Rs 439.00 and Rs 49.00 to close at Rs 12689.00 and Rs 4299.00, respectively.
The two companies including Colgate Palmolive, Indus Dyeing remained the top losers with share prices decreasing by Rs 48.16 and Rs 22.20 to close at Rs 1780.00 and Rs 426.80, respectively. Nine of 10 companies available in "Top Ten" chart made handsome gains. Maple Leaf Cement was declared "Volume Leader" with an increase of Re1, it closed at Rs 18.76 with a turnover of some 20.94 million.
Bank of Punjab also gained Re1 to close at Rs 9.22 on some 12.56 million shares. DGK Cement witnessed bullish trend and with an addition of Rs 1.86, it closed at Rs 71.13. The volume stood at 12.10 million shares. Engro Pakistan ended higher with a good jump of Rs 5.4, closing at Rs 134.40 on some 12.05 million shares. Lafarge Pakistan gained 15 paisa to close at Rs 6.58 on some 6.66 million shares. Fauji Cement bagged eight paisa to close at Rs 8.49 on some 6.21 million shares.
PTCLA also gained 13 paisa to close at Rs 20.43 on some 5.67 million turnover. Jah Sidd Co XD gained 28 paisa to close at Rs 13.38 on some 4.88 million shares. Lotte PakPTA increased by 13 paisa to close at Rs 7.41 on some 4.80 million shares. PIAC (A) lost 58 paisa to close at Rs 7.18 with some 8.93 million shares.
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