KARACHI - The Karachi stock market closed at new all-time high on Thursday amid higher trades, led by second and third tier stocks.
An analyst observed consolidation was witnessed in blue chip stocks amid concerns over SBP report on economy. “Renewed foreign interest in selected stocks and higher global commodities played a catalyst role in bullish sentiments at KSE ,” the analyst added.
At local equity market, the benchmark KSE 100-share index added 37 .47 points or 0.22 per cent to finish the day at 17,242.74 points as compared to 17205.27 points of the previous day.
The KSE was mainly supported by banking stocks and investors also remained active in telecom and cement sectors. After increasing for last few sessions, profit-taking was seen in telecom sector while results expectations kept cement sector on investors’ radar. Maple Leaf Cement closed 4% down after announcing its December result while 44m shares exchanged hands.
KSE allshare-index gained 51.66 points or 0.42 per cent to end the day at 12207.26 points, KSE 30-share index grew by 22.16 points or 0.16 percent to close the day at 14084.85 points while KMI 30-share index increased by 26.23 points or 0.09 percent to conclude the day’s trading at 29695.20.
In local equity market, 272.763 million shares were traded during the session compared to 277.634 million shares of the last working day. Trading value of shares climbed to Rs 6.046 billion from Rs 5.746 billion while the capitalization of stock market settled at Rs 4.325 trillion after opening at Rs 4.307 trillion.
Trading took place in 335 companies where losers beat the gainers by 171 to 144 while the values of 20 stocks remained intact. Nestle Pakistan Limited was the biggest price gainer of the day, up by Rs 241.57 to Rs 5170, followed by Rafhan Maize Product, up by Rs 65 to Rs 3550. Indus Dyieng and Gillette Pak was the biggest loser of the day, down by Rs 8.20 to Rs 662 and Rs 7 to Rs143.
Maple Leaf Cement was the volume leader of the day with 43.938 million shares as it closed at Rs 17.05 after opening at Rs 17.78. Faujji Cement was on the second position with 28.152 million shares. It was followed by Telecard Limited with 23.081 million shares, shed Re 0.46 to Rs 3.66, KESC with 18.264 million shares, up by Re 0.19 to Rs 6.07 and Lotte PakPTA with 17.908 million shares, higher by Re 0.34 to Rs 7.46.