KARACHI: The KSE-100 index on Friday increased by 52.84 points and closed at 11,982.62 level on the back of selective buying in late hours.
The market witnessed a mixed trend throughout the week with the index oscillating between 12,006.23 points intra-day high and 11,921.02 points intra-day low level.
Trading activities also improved as the volumes at ready counter increased to 130.416 million shares as compared to 107.722 million shares traded on Thursday. Total market capitalization increased by Rs 16 billion to Rs 3.116 trillion. Of the total 318 active stocks, 150 closed in positive and 82 in negative while the value of 86 stocks remained unchanged.
Jahangir Siddiqui Co was the volume leader with 33.100 million shares and gained Re 0.69 to close at Rs 7.46. Azgard Nine inched up by Re 0.37 to close at Rs 4.29 with 12.988 million shares. DG Khan Cement increased by Re 0.79 to close at Rs 24.22 with 6.516 million shares.
Attock Refinery surged by Rs 4.68 to close at Rs 126.19 with 5.811 million shares.
In the fertilizer sector, Engro Corp, Fatima Fertilizer Co and Fauji Fertilizer Co declined by Re0.03, Re0.23 and Rs1.91 to close at Rs122.04, Rs22.25 and Rs182.77 with 4.848 million shares, 3.682 million shares and 3.023 million shares, respectively.
Lafarge Pakistan gained Re0.09 to close at Rs2.23 with 4.794 million shares. Engro Polymer inched up by Re0.16 to close at Rs8.77 with 3.794 million shares. JOV&Co closed at Rs2.75, up Re0.38 with 2.730 million shares.
Nestle Pakistan and Indus Dyeing were the highest gainers increasing by Rs36.96 and Rs19.19 to close at Rs3320.63 and Rs403.05 respectively while Unilever Pak and Fazal Textile were the worst losers declining by Rs76.23 and Rs12.16 to close at Rs5316.50 and Rs231.19, respectively.
Ahsan Mehanti at Arif Habib Corp said that the stocks closed bullish in the earnings announcement session at KSE amid higher trades led by oil and banking scrips on strong valuations. Oil refineries remained in the limelight after strong earnings announcements this week and reports of rising margins, he added.
He said the index moved within a narrow range. Stocks managed to close near its session high on investors’ speculation on strong corporate earnings announcements and positive outlook ahead of major earning announcements due next week.
“The renewed rising global commodities and easing political outlook played a catalyst role in bullish sentiment at KSE despite concerns for NRO case proceedings and indictment of PM on Feb13,” he said.
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