Led by third tier stocks, bulls continued their domination on Karachi Stock Exchange (KSE) on the last trading day of the week on Friday, as the benchmark KSE-100 index gained 94.62 points to close at all-time high-level of 17,477.94 points from 17,383.32 points on a day earlier. "Market continued its upward momentum as KSE-100 Index closed up 95 points taking index to its new all time high-level of 17,478 with volumes of 269 million shares," said Khalil Usmani, an analyst at JS Global.
He said that cat popped out of the basket as Askari Bank closed at its upper circuit up five percent after announcing the purchase price by Fauji Foundation which is Rs 24.32 per share. OGDC contributed 17 points in the index on the back of continued foreign interest closed up 0.8 percent at Rs 195.49 with total volumes of 616k shares, he added.
On Friday, Karachi Share Market opened in green zone and it succeeded to maintain this till the end. The index breached the highest level of 17,499.63 during intraday trading. While, the trading side remained dull and overall Rs 269.366 million shares were traded at the ready counter compared to 311.408 million shares traded on Thursday.
Besides, the trading activity was witnessed in 345 active scrips, out of which 212 closed in positive and 109 closed in negative, while the share price of only 24 stocks remained unchanged. Big increase of Rs 30.8 billion was witnessed in market capitalisation to close at Rs 4.378 trillion against Rs 4.347 trillion on the last trading day.
Nestle Pakistan Ltd and Indus Dyeing remained the highest gainers of the day and their share prices were increased by Rs 95 and Rs 16.3 to close at Rs 5,000 and Rs 558.3 respectively. While, Unilever Pak and Exide (PAK) were losers of the day because their share prices were declined by Rs 38.75 and Rs 10.46 to close at Rs 10,505 and Rs 331.55 respectively.
Among the top 10 leading companies reflecting significant turnover, all 10 companies have gained their prices. Askari Bank remained the volume leader with share price increased by Re 0.99 to close at Rs 16.99 with some 24.5 million shares'' trading and Jah Sidd Co also went up by Re 1 to close at Rs 18.04 and its some 20.2 million shares were traded. WorldCall Telecom gained Re 0.07 to close at Rs 3.62 with some 19.8 million shares'' trading and Telecard Limited also got an increase of Re 0.28 to close at Rs 4.97 with some 19.4 million turnover. With trading of some 16.9 million shares, TRG Pakistan Ltd remained up by Re 0.6 at Rs 8.42 and PTCLA gained Re 0.54 to close at Rs 20 and its some 16.5 million shares were traded.
Similarly, Wateen Telecom Limited got an increase of Re 0.13 to close at Rs 3.8 on some 10.2 million turnover and Pace (Pak) Ltd also gained Re 0.35 to close at Rs 3.71 with some 10.1 million shares'' trading. Same like that Sui North Gas stood at Rs 24.9 with an increase of Re 0.83 and turnover was recorded as some 9.1 million and Engro Foods Ltd also gained Rs 4 to close at Rs 121.35 with some 6.5 million shares'' trading.