Led by telecom and cement sectors, Karachi Stock Exchange witnessed another bullish session on Wednesday. The KSE-100 Index regained 23,000-level, bagging 374.51 points to close at 23,165.21 against 22,790.70 on Tuesday.
The index touched 23,221 highest and 22,790 lowest levels during the intra-day trading. The market capitalisation witnessed a big jump and stood at Rs5.504 trillion against Rs5.433 trillion.
The trading side also maintained the same level and the volume at the ready counter closed up at 165.650 million shares from 87.726 million shares.
Commenting on the market performance, Samar Iqbal, AVP (Equity Sales) at Topline Securities said after a gap of 6 weeks, the KSE-100 index crossed 23,000 mark on renewed buying by local and foreign investors. Value traded also crossed Rs 8bn after one and a half month due to positive news flow on textile, telecom and fertiliser sectors.
She said PTCL with more than 21mn shares traded gained on news that government was seriously working on controlling gray trafficking. Textile stocks NCL and NML closed upper limit due to GSP status given to Pakistan. PSO closed at upper limit in hope that oil margin will soon be revised upward, she added.
Out of total 343 active stocks, some 230 scrips witnessed positive trend, 94 negative and that of 19 remained unchanged.
Two top gainers for the day were Nestle Pak XD, which shot up by Rs100 to Rs7400 and Indus Motor Company XD, which climbed by Rs16.09 to Rs339.58. The top losers were Wyeth Pak, which shed Rs150 to Rs4400 and Bata (Pak) XD, which lost Rs60 to Rs1675.
Of the Top 10 volume leaders, PTCLA led the tally with 21m shares, gaining 14 paisa to close at Rs26.40. Fauji Cement XD closed higher at Rs11.45 with an addition of 11 paisa on some 9m shares; and Bank Al-Falah gained 17 paisa to close at Rs24.33 on some 8m shares.
Fatima Fertiliser witnessed a jump of nine paisa, to close at Rs25.89 on 7m shares; Jahangir Siddiqui Company gained 10 paisa to close at Rs8.04 on 6m shares; and DGK Cement XD improved by Rs1.67 to Rs7.80 on 5m shares.
Hub Power Company moved up by two paisa to close at Rs62.40 on 5m shares; Engro Corporation witnessed a jump of Rs2.92 to Rs129.70 on 5m shares; B.O. Punjab bagged two paisa to close at Rs10.40 on 5m shares; and Telecard Limited climbed by 10 paisa to Rs4.98 on 5m shares.
Comments
Comments are closed.