After an initial setback, the KSE-100 index on Friday managed to close in positive at 12,225.52 points with a net gain of 27.40 points on the back of foreign investors support. Although the market witnessed a mixed trend throughout the session and the index remained oscillating between 12,241.42 points intra-day high and 12,175.08 points intra-day low level.
The local investors opted for profit taking that forced the index into negative zone, however, foreign investors interest in selective stocks supported the index to recover its intra-day losses and to close in positive territory. Trading activities, however, remained thin and the volumes at ready counter declined to 79.641 million shares, as compared to 101.515 million shares traded on Thursday.
Total market capitalisation increased by Rs 7 billion to Rs 3.241 trillion. Out of the total 344 active scrips, 130 closed in positive and 124 in negative, while the value of 90 scrips remained unchanged. Nishat Mills was the volume leader with 6.525 million shares and increased by Rs 1.50 to close at Rs 61.56 followed by DG Khan Cement that gained Re 0.26 to close at Rs 23.71 with 6.457 million shares. Jahangir Siddiqui Co lost Re 0.21 to close at Rs 7.94 with 6.314 million shares. Azgard Nine inched up by Re 0.13 to close at Rs 6.71 with 4.918 million shares.
Byco Petroleum gained Re 0.11 to close at Rs 9.58 with 4.460 million shares. Arif Habib Corp inched up by Re 0.15 to close at Rs 23.53 with 4.064 million shares. BoP lost Re 0.04 to close at Rs 6.56 with 3.949 million shares. Attock Refinery surged by Rs 1.97 to close at Rs 133.77 with 3.862 million shares. Fauji Fertiliser Bin Qasim increased by Re 0.41 to close at Rs 43.04 with 3.146 million shares. Lotte Pakistan PTA lost Re 0.03 to close at Rs 15.17 with 2.890 million shares.
Unilever Pak and National Refinery were the highest gainers increasing by Rs 99.02 and Rs 15.08 to close at Rs 5200.00 and Rs 365.18, respectively while Shell Pakistan and Nestle Pakistan were the worst losers declining by Rs 4.31 and Rs 4.26 to close at Rs 224.82 and Rs 3545.44, respectively.
Ahsan Mehanti at Arif Habib Investments said that bullish trend continued on strong valuations. The positive expectations for Pak-US relations after US Secretary of State visit to Pakistan and hopes EU duty relief for Pakistan textile exports would affect the sentiment at KSE. He said higher estimated outlay for PSDP in federal budget was taken positive for cement sector, higher refinery margins and recovery in international oil prices invited investor interest in commodity scrips despite security concerns in the country after terrorist strike in Kohat.