KARACHI - As expected market further recovered after major political parties reached consensus on election related issues. Moreover, no major development in the rental power case also helped equities. Mid cap stocks remained active with FCCL led the volume followed by JSCL and BYCO, dealers observed here on Thursday.
At local equity market benchmark KSE-100 share index gained 109.62 points or 0.68 percent to end the day at 16,291.09 points as compared to 16,181.47 points of the previous day.
Market expert Ahsan Mehanti said political consensus on prevailing uncertainty and standoff in long march called for reform in election commission and Govt assurance for timely elections in the country played a catalyst role in bullish sentiments at KSE. Strong earning announcements in blue chip stocks and higher global commodities affected the sentiments amid cautious activity in the trading session on concerns for falling rupee-dollar parity.
KSE-Allshare index higher by 61.31 points or 0.54 percent to finish the day at 11,518.97 points, KSE-30 share index up by 59.83 points or 0.45 percent to close the day at 13,303.97 points while KMI-30 share index increased by 81.45 points or 0.29 percent to stop the day at 28,216.47 points.
Bourse turnover in term of shares was 144.957 million shares after opening at 96.064 million shares while the value of traded shares was climbed to Rs 3.649 billion from Rs 2.724 billion. The capitalisation of stock market settled at Rs 4.082 trillion compared to Rs 4.060 trillion of a day earlier.
During the session of 338 companies, gainers beat the losers 245 to 73 while the value of 20 stocks remained intact. Indus Dyeing was the biggest price gainer of the day up Rs 29.50 to Rs 619.50 while the down hill trend was led by Unilever Pak decreased by Rs 30.33 to Rs 9969.67.
Fauji Cement was the volume leader of the day with 16.948 million shares as it closed at Rs 6.89 after opening at Rs 6.74. It was followed by JS Company with 14.083 million shares up by Re 0.63 to Rs 14.74, Byco Petroleum with 13.720 million shares augmented by Re 0.29 to Rs 13.27, TRG Pakistan Ltd with 13.372 million shares grew by Re 0.39 to Rs 6.66 and Dera Ghazi Khan Cement with 6.977 million shares shed by Re 0.23 to Rs 51.15.