The KSE-100 index on Thursday gained 26.44 points to close at 13,271.39 points on the back of local and foreign investors support with record high volumes. The foreign investors' interest continued as they remained net buyers of share worth dollars 1.07 million.
After positive opening the index hit 13,364.66 points intra-day high, however profit taking in late hours minimised the intra-day gains. Trading activities significantly improved as the volumes at ready counter increased to two-year highest level of 358.177 million shares as compared to 318.609 million shares traded on Wednesday. Total market capitalisation increased by rupees eight billion to Rs 3.448 trillion. Of the total 391 active scrips, 227 closed in positive and 87 in negative while the value of 77 stocks remained unchanged.
Fauji Cement was the volume leader with 44.363 million shares and gained Re 0.47 to close at Rs 5.49. Lafarge Pakistan inched up by Re 0.57 to close at Rs 3.36 with 33.360 million shares. Dewan Cement and DG Khan Cement increased by Re 1.00 and Rs 1.17 to close at Rs 3.01 and Rs 30.17 with 15.392 million shares and 12.954 million shares respectively. Azgard Nine closed at Rs 7.85, up Re 0.57 with 18.486 million shares.
In the banking sector, JS Bank, BoP and Bank Al Falah increased by Re 1.00, Re 0.38 and Re 0.22 to close at Rs 5.74, Rs 9.00 and Rs 15.59 with 15.299 million shares, 12.362 million shares and 11.549 million shares respectively. Arif Habib Co surged by Rs 1.38 to close at Rs 32.93 with 12.680 million shares. Lotte Pakistan PTA inched up by Re 0.18 to close at Rs 9.54 with 12.643 million shares.
Rafhan Maize and Unilever Pak were the highest gainers increasing by Rs 126.83 and Rs 49.99 to close at Rs 2846.83 and Rs 5699.99 respectively while Nestle Pakistan and Siemens Pakistan were the worst losers declining by Rs 39.80 and Rs 15.00 to close at Rs 4169.57 and Rs 775.00 respectively.
"After staying under the spell of technical adjustment, previous session, the index on foreign inflow led by Oil and Gas stocks continued on gaining path", Hasnain Asghar Ali, a market expert said. He said the strength was duly joined and contributed by almost all the frontline sectors, cement sector stocks on higher export proceeds mainly targeting the northern neighbours led the volumetric activity while holding companies due to rising valuations of strategic holding and equity portfolios stayed the day-traders favourite. The banking stocks mainly on cash payouts and management take over stories continued to attract various equity portfolios, despite concerns of rise in NPLs' day end off-loading however erased gains thus forcing the index to close marginally higher.