The KSE-100 index on Wednesday gained 10.62 points to close at 11,329.77 points on the back of local investors' support. After positive opening, the index briefly visited negative zone at 11,308.19 points intra-day low. However, reviving investors' interest supported the index to once again enter in positive territory to hit 11,374.31 points intra-day high level.
Trading volume at ready counter stood at 86.234 million shares as compared to 87.041 million shares traded on Tuesday. Market capitalisation increased by Rs 4 billion to Rs 3.0 trillion. Of 331 active scrips, 141 closed in positive and 101 in negative, while the values of 89 stocks remained unchanged.
Lotte Pakistan PTA was the volume leader with 8.361 million shares and gained Re 0.32 to close at Rs 12.04. NBP increased by Rs 2.03 to close at Rs 42.72 with 6.654 million shares. Fatima Fertiliser Co lost Re 0.06 to close at Rs 17.10 with 6.305 million shares. D G Khan Cement declined by Re 0.40 to close at Rs 20.18 with 4.794 million shares, while Lucky Cement increased by Re 0.87 to close at Rs 73.70 with 2.995 million shares. Arif Habib Corp closed at previous day's closing level of Rs 25.57 with 3.440 million shares.
Descon Oxychem gained Re 1.00 to close at Rs 6.59 with 3.289 million shares. Nishat Mills surged by Rs 1.27 to close at Rs 47.64 with 3.249 million shares. Hum Network increased by Re 1.00 to close at Rs 12.00 with 3.002 million shares. PTCL lost Re 0.41 to close at Rs 11.43 with 2.957 million shares. Unilever Pak and Attock Petroleum were highest gainers, increasing by Rs 15.00 and Rs 3.24 to close at Rs 5335.00 and Rs 368.04 respectively, while Rafhan Maize and Nestle Pakistan were worst losers, declining by Rs 134.00 and Rs 26.64 to close at Rs 2565.00 and Rs 3529.25 respectively.
Hasnain Asghar Ali at Aziz Fidahusein Co said that relatively calm political and law and order situation, and fresh placements through offshore corridors kept the equity market on gaining ground. He said that on the likelihood of government's commitment to reconsider implementation mechanism of CGT, that has badly hit the revenue generation for FBR from local equity markets due to massive decline in turnover and halted price discovering mechanism, the corporate participants kept the bourse on gaining ground.
"However, issues on economic and financial front, nervousness in international equity markets, fragile law and order and political situation, cold attitude by various international powers and loan extending institutions and likely repercussions of the ongoing flooding and increased downpour kept the local participants on short term trading window. Availability of buyers on substantial discounts will, however, invite widespread participation of short-term traders, certainly not without identified stop loss limits", he added.