The Karachi share market witnessed bullish session on Friday on foreign investors'' support, and the KSE-100 index breached 10,400 points level. The index closed at 10,416.52 points level with a gain of 169.75 points. Trading improved significantly and the volume at ready counter increased to 205.629 million shares as compared to 170.343 million shares traded on Thursday.
Market capitalisation increased by Rs 44 billion to Rs 2.951 trillion. Of 370 active scrips, 220 closed in positive and 136 in negative, while the value of 14 scrips remained unchanged. TRG Pakistan was the volume leader with 26.234 million shares and gained Re 0.38 to close at Rs 4.21. SilkBank, Bank of Khyber and NBP increased by Re 0.18, Re 0.47 and Rs 1.20 to close at Rs 3.25, Rs 5.00 and Rs 70.61 with 17.369 million shares, 10.504 million shares and 5.637 million shares respectively. Lotte Pakistan inched up by Re 0.11 to close at Rs 11.17 with 11.065 million shares.
POL surged by Rs 9.49 to close at Rs 244.87 with 9.245 million shares. Engro Corp increased by Rs 9.99 to close at Rs 209.90 with 8.610 million shares. First Capital Sec gained Re 1.00 to close at Rs 9.33 with 7.298 million shares. PTCL increased by Re 0.44 to close at Rs 21.31 with 6.981 million shares. DG Khan Cement lost Re 0.20 to close at Rs 31.62 with 6.386 million shares.
Unilever Pakistan and Rafhan Maize were the highest gainers and increased by Rs 93.31 and Rs 20.27 to close at Rs 3735.25 and Rs 1340.00 respectively, while Fazal Textile and Atlas Battery were the worst losers and declined by Rs 19.83 and Rs 6.64 to close at Rs 380.17 and Rs 213.09 respectively.
Ahsan Mehanti at Shehzad Chamdia Securities said that intense buying was witnessed at the share market as international oil prices crossed $85 inviting foreign interest in Pakistan oil & gas sector, followed by blue chip fertiliser and banking scrips. The political consensus on Pakistan constitutional reforms, expectation of early release of IMF tranche for Pakistan, and support and record rise in global equity markets played the catalyst role in positive activity in the market.