KARACHI - Stocks closed all time high amid speculations on expected ease in SBP policy rate after CPI data for Oct’14 stood 5.82pc YoY.
After a long week end, the KSE benchmark 100-share index posted a fresh gain of 216.78 points or 0.71 percent to stop the trading at 30593.31 points compared to 30376.53 points of the of the last working day on Friday Ahsan Mehanti analyst at Arif Habib Corp said reports for strong book building interest in 7.5pc OGDCL share sale by Govt today and institutional interest in leveraged sectors to be positively impacted by low interest rates played a catalyst role in bullish activity despite major fall in global commodities and concerns for political opposition on Govt privatisation plans.
KSE-Allshare index added by 192.52 points or 0.83 percent to end the session at 22461.92 points, KSE-30 index up by 79.43 points or 0.40 percent to conclude the day at 20184.23 points while KMI-30 index increased by 384.91 points or 0.79 percent to finish the day at 49084.06 points.
Out of 405 companies 271 closed in positive and 116 in negative while the value of 18 stocks remained intact. Rafhan Maize was the biggest price loser of the day decreased by Rs 385 to 10850 followed by Sanofi-Aventis down by Rs 35 to Rs 730. Unilever Foods and Siemens Pakistan were the biggest price gainers of the day up by Rs 350 to Rs 9050 and Rs 52.87 to Rs 1110.37.
Samar Iqbal AVP Equity Sales at Topline Securities said Karachi market closed all time high led by falling commodity prices and lower inflation. Japanese Yen further deprecated kept interest alive in auto assemblers. OGDC’s Government offering started from today for three days also support the bullish spell.
The day turnover of market was 232.825 million shares after opening at 140.856 million shares and the value of traded shares was climbed to Rs 11.763 billion from Rs 9.613 billion. The capitalisation of the market maintained at Rs 7.094 trillion compared to Rs 7.033 trillion of the previous session. Volume chart was led by Maple Cement with 19.112 million shares as it closed at Rs 31.24 after opening at Rs 29.75. Pak Elektron was the second highest on volume chart with 17.013 million share grew by Re 0.89 to Rs 29.69. It was followed by Ghani Automobile with 11.462 million shares added Re 0.76 to Rs 6.88, Pak Elektron (R) with 10.104 million shares extended by Re 0.64 to Rs 8.95 and JS Co with 9.871 million shares up by Re 0.92 to Rs 10.86.