KARACHI
Stocks showed strong recovery led by selected scrips across the board on speculations ahead of quarter end results.
At local equity market benchmark KSE-100 share index posted a fresh gain of 246.12 points or 0.83 percent to end the trading at 29940.39 points compared to 29694.27 points of the last working day.
Ahsan Mehanti analyst at Arif Habib Corp said major activity remained in cement and auto stocks on expectations for record earnings.
Record earnings of MCB Bank, LSM growth data over 5.27pc YoY in Aug’14 and renewed institutional support in oversold oil, fertilizer stocks played a catalyst role in bullish activity at KSE, he added.
KSE-Allshare index extended by 244 points or 1.12 percent to end the trading at 22102.63 points, KSE-30 index grew by 117.15 points or 0.59 percent to finish the session at 19862.25 points while KMI-30 index increased by 255.18 points or 0.54 percent to conclude the session at 47758.74 points.
The day turn over of shares was 172.533 million shares after opening at 143.817 million shares and the value of traded shares was climbed to Rs 8.170 billion from Rs 6.242 billion. The capitalisation of the market maintained at Rs 6.979 trillion compared to Rs 6.906 trillion of the previous session.
Trading took place in 391 companies where gainers beat the losers 231 to 140 while the value of 20 stocks remained intact. Nestle Pak and Rafhan maize were the biggest price gainers of the day increased by Rs 415 to Rs 8715 and Rs 299.99 to Rs 11699.99. Unilever Foods and Siemens Pakistan were the top price losers of the day decreased by Rs 77.10 to Rs 8699 and Rs 22.59 to Rs 1073.50.
Active list was topped by Maple Leaf Cement with 29.045 million shares as it closed at Rs 29.01 after opening at Rs 29.50. Bank of Punjab was the second highest on volume chart with 14.405 million shares up by Re 0.26 to Rs 8.70. It was followed by Pak Elektron XR with 8.209 million shares grew by Rs 1.02 to Rs 27.14, Dewan Motors with 8.025 million shares shed by Re 0.25 to Rs 9.97 and Lalpir Power with 6.897 million shares up by Re 0.80 to Rs 20.29.