KARACHI - The month of December 2013, kicked off to impressive start for the market as participation remained on the higher side. Such was the positivity that investors overlooked above expectation CPI.
At local equity market benchmark KSE-100 share index posted a fresh of 99.38 points or 0.41 percent to end the day at 24401.57 points compared to 24302.19 points of the last working day on Friday.
Equity dealer Asad Siddique said benchmark index closed at yet another high with improved volumes, up 15pc to Rs9.3b. Widespread interest was seen in cement, textiles and banking sector stocks. FCCL remained the volume leader with 16m shares exchanging hands followed by NML, which closed at its upper cap with volumes of 8.8m shares, Engro remained the 3rd highest volume leader with trade of 8.1m shares.
KSE-Allshare index up by 52.67 points or 0.29 percent to close the day at 18063.39 points, KSE-30 share index grew by 88.28 points or 0.48 percent to finish the day at 18334.29 points while KMI-30 share index gained 144.75 points or 0.36pc to close the session at 40814.09 points.
Market traded 156.607 million shares after opening at 144.409 million shares and the value of traded shares was climbed to Rs 9.335 billion from Rs 8.105 billion. Capitalisation of the market maintained at Rs 5.891 trillion compared to Rs 5.874 trillion of a day earlier.
Analyst said renewed foreign interest, expectations for higher textile sector exports after GSP plus status next year, higher local cement prices and favorable fertilizer off take data and announcements for PM package on investments incentives in green field projects played a catalyst role in bullish sentiments despite concerns for ongoing protests against drone attacks blocking NATO supply routes in the country. Trading took place in 379 companies where gainers out numbered the losers 212 to 146 while the value of 21 stocks remain intact. Unilever FoodsXD was the biggest price gainer of the day up by Rs 506.52 to Rs 10644 followed by Bata (Pak) increased by Rs 107.22 to Rs 2251.76. Rafhan MaizeXD and Nestle Pak were the top losers of the day decreased by Rs 255.27 to Rs 7500 and 200 to Rs 9100.
Active list was topped by Fauji CementXD with 16.473 million shares as it closed at Rs 13.56 after opening at Rs 13.33. Nishat Mills Limited was on the second position with 8.750 million shares up by Rs 3.21 to Rs 114.01. It was followed by Engro Corporation with 8.097 million shares marginally up by Re .01 to Rs 149.81, Nishat (Chunian) with 6.782 million shares up by Re 0.44 to Rs 56.75 and PIAC(A) with 5.884 million shares higher by Re 0.23 to Rs 7.88.