Buying rally on the back of fresh fund injection by the foreign investors supported the KSE-100 index to continue its upward journey on the third consecutive day to close at its intra-day high level 12,208.87 points level, with the net gain of 42.84 points on Thursday.
On the other hand the junior free float market capitalisation-based KSE-30 index surged by 65.13 points to close at 15,094.12 points level. The market opened on a positive note, however, witnessed some resistance during the mid-session due to profit-taking in some scrips and at one time the index touched 12,153.52 points intra-day low level.
The market witnessed across the board buying as major blue chips closed in the green. The ready market volume declined to 254.436 million shares as compared to 278.033 million shares and the futures market turnover decreased to 77.163 million shares against 78.669 million shares traded a day earlier. The CFS value increased to Rs 54.67 billion as compared to value of Rs 54.51 billion a day earlier. The overall market capitalisation surged by Rs 23 billion to Rs 3.569 trillion.
Trading took place in 370 scrips out of which 177 scrips closed in positive column and 160 scrips closed in negative column while the value of 33 scrips remained unchanged.
DG Khan Cement was the star performer of the day with 34.739 million shares and the scrips surged by Rs 3.65 to close at Rs 100.55 followed by Lucky Cement which gained Rs 4.40 to close at Rs 104.75 while Fauji Cement closed at Rs 19.45, up by Rs 0.15.
In the banking sector, Askari Bank, BoP and Bank Al Falah gained Rs 1.35, Rs 1.50 and Rs 0.45 to close at Rs 94.20, Rs 106.00 and Rs 55.50, respectively. The E&P giant OGDC, after its announcement regarding fresh discoveries of gas and oil invited fresh buying and surged by Rs 0.70 to close at Rs 122.45.
In the other top 10 volume leaders, WorldCall Telecom gained Rs 0.95 to close at Rs 12.75, Callmate Telips surged by 0.15 to close at Rs 51.90 while TRG Pakistan increased by Rs 0.30 to close at Rs 11.50.
Wyeth Pak and Siemens Engineering were the highest gainers which gained Rs 88.70 and Rs 49.00 to close at Rs 1978.70 and Rs 1119.00 respectively, while Lakson Tobacco and Central Insurance were the highest losers which lost Rs 29.75 and Rs 7.90 to close at Rs 565.25 and Rs 152.00, respectively.
Ahsan Mehanti at Shehzad Chamdia Securities said that portfolio investment at the local bourses has touched its highest level of over $700 million resulting the fresh buying was witnessed at the local shares market. On the other hand, the market is witnessing March-end results rally from last few days and the index is gradually strengthening day by day.