The benchmark KSE-100 index continued to breach fresh psychological barriers and Friday it touched another historic high of 19,916.27 against 19,661.46 Thursday. Karachi stock market witnessed bull run on the last day of the week and the 100-index gained 254.81 points but the volume stood at 218.191 million against 233.698 million.
The local bourse opened in green zone and succeeded to close in the same zone. The index touched highest level of 19,944.83 points during the intra-day trading. Commenting on the market performance, analysts said the pre-election rally continued as the market hit a new high on the back of elections on schedule and continuous foreign flows.
They said KSE?100 closed at 19,916 with total volumes traded for the day was 218 million shares. The day started with the PTC hitting its upper circuit after the Sindh High Court issued a stay order against the CCP verdict on ICH annulment. "Oil remained the pick for foreign investors on the back of attractive valuation and with the hope that coming week will bring in some positive change in the country''s scenario as OGDC, POL & PSO were closed up 1.2 percent, 1.5 percent & 3.4 percent respectively," they said.
Market capitalisation stood at Rs 4.889 trillion, up by Rs 52.85 billion against Rs 4.836 trillion. The trading side witnessed decline, volume at ready counter was 218.191 million against 233.698 million shares. Out of total 369 active scrips, 211 went up, 131 went down and that of 27 remained unchanged. Wyeth Pak and Rafhan Maize XD were the top gainers with share prices increasing by Rs 68.72 and Rs 42.40 to close at Rs 1514.87 and Rs 4459.90, respectively.
Shezan Inter and Island Textile were the top losers. Their share prices decreased by Rs 33.73 and Rs 31.00 to close at Rs 641.04 and Rs 622.00, respectively. Nine companies available in "Top Ten" chart witnessed growth in their share'' prices while only one lost its worth. Fauji Cement succeeded to regain the position of "Volume Leader." Increasing by 25 paisa, it closed at Rs 10.18 on a turnover of 24.61 million shares.
PTCLA remained in positive zone. It gained 83 paisa to close at Rs 19.02 on some 16.60 million shares. Japan Power went up by 42 paisa to close at Rs 2.11 on 12.37 million shares. Telecard Limited remained on the higher-side. Increasing by 57 paisa, it closed at Rs 5.34 on some 10.90 million shares; National Bank closed on positive note gaining Re1.24 to close at Rs 41.39 on 10.42 million shares. WorldCall Telecom rose by 22 paisa to close at Rs 2.92 on a volume of 9.35 million shares.
BO Punjab XR rose by 66 paisa to close at Rs 9.31 on a turnover of some 9.14 million shares. TRG Pakistan shed 28 paisa to close at Rs 9.18 on some 7.83 million shares. Engro Corporation bagged Re1.57 to close at Rs 140.49 on a volume of 6.27 million shares. The last one among the Top Ten was Soneri Bank, which gained 19 paisa to close at Rs 7.50 on a turnover of 5.95 million shares.