The benchmark KSE-100 index on last trading session before Eid breached 15,000 psychological level after 4 years. The index closed at 15,000.08 points with a net gain of 29.15 points on Thursday on the back of both local and foreign investors support. Fresh buying was witnessed by local investors while foreign investors also remained net buyers of shares worth $3.71 million.
The market opened on strong positive note and the index hit 15,040.89 points intra-day high level. However, the investors opted for profit taking after mid session and the index dropped into negative zone at 14,951.45 points intra-day low level. Fresh buying in late hours however supported the index to close in positive. Trading activities remained low as the volumes at ready counter declined to 96.743 million shares as compared to 173.780 million shares traded on Wednesday. Total market capitalisation increased by Rs 7 billion to Rs 3.827 trillion. Of the total 274 active stocks, 136 closed in positive and 119 in negative while the value of 19 stocks remained unchanged.
Lafarge Pakistan was the volume leader with 22.562 million shares and gained Re 0.26 to close at Rs 5.27. In the other cement sector stocks, Fauji Cement, DG Khan Cement and Maple Leaf Cement lost Re. 0.09, Re. 0.02 and Re 0.04 to close at Rs 6.50, Rs 49.32 and Rs 7.66 with 10.004 million shares, 2.716 million shares and 1.758 million shares respectively while Dewan Cement closed at the previous day's closing level of Rs 4.25 with 1.706 million shares. KESC decreased by Re. 0.27 to close at Rs 5.73 with 6.305 million shares.
NBP declined by Re. 0.48 to close at Rs 44.05 with 4.657 million shares. Nishat Mills decreased by Re. 0.31 to close at Rs 55.97 with 3.773 million shares. Jahangir Siddiqui Co lost Re. 0.17 to close at Rs 15.00 with 3.257 million shares. Pak Reinsurance closed at Rs 20.14, down Re. 0.25 with 2.856 million shares.
Unilever Pak and Rafhan Maize were the top gainers increasing by Rs 200.05 and Rs 180.00 to close at Rs 8850.05 and Rs 3980.00 respectively while Indus Dyeing and Abbott Laboratories were the top losers declining by Rs 21.68 and Rs 5.82 to close at Rs 411.99 and Rs 191.27 respectively.
Ahsan Mehanti at Arif Habib Corporation said that the Pakistan stocks crossed 15000 amid strong valuations in the earning announcement session at KSE. He said that the renewed foreign interest in oil sector played a catalyst role in bullish sentiments despite concerns for outcome of Kamra Airbase Operation. He said profit taking was seen in some overbought stocks as some of the investors opted to book profit before long week end and Eid holidays.