karachi

Continuous foreign fund manager support helped index to gain further which was led by PSO and NBP, experts observed here on Wednesday.

KSE-100 share index gained 270.22 points or 0.91 percent to close the trading at 29996.61 points compared to the 29726.39 points of the last working day.

Faran Rizvi Senior Manager Equity Sales at JS Securities said, OGDC +1.4pc, Lucky Cement +3.4pc and UBL +1.5pc led the way. Lafarge Cement +0.6pc led volumes today with 8.7m shares traded as it announced an extraordinary general meeting for the 21st of Oct. Local investors were encouraged by the fact that foreigners turned net buyers yesterday after a short spurt of selling ended. Healthy participation in the Saif Power book building and Engro Powergen Qadirpur IPO also pointed to strong appetite for equities with the general public, institutions and high net worth individuals. High levels of cash held by local business groups, low fixed income instrument yields coupled with foreign institutional interest are being seen as a reason for the resilience of the market despite political uncertainties, he added.  KSE-Allshare index grew by 207.73 points or 0.95 percent to stop the trading at 21985.91 points, KSE30 index up by 183.28 points or 0.91 percent to finish the day at 20397.84 points while KMI-30 index increase by 428.81 points or 0.89 percent to finish the trading at 48808.19 points.  The turnover of market was 125.391m shares after opening at 100.374m million shares and the value of traded shares was climbed to Rs 7.077 billion from Rs 6.255b. The capitalisation of the market maintained at Rs 6.979 trillion compared to Rs 6.914 trillion of a day earlier.  Out of 392 companies 216 closed in positive and 152 in negative while the value of 24 stocks remained intact. Unilever Foods was the biggest price gainer of the day up by Rs 439 to Rs 9238 followed by Nestle Pak.XD higher by Rs 200 to Rs 7600. Colgate Palmolive and Sapphire Textile were the top price losers of the day decreased by Rs 43.50 to Rs 1506.50 and Rs 15 to Rs 285.  Active list was topped by Dewan Motors with 10.463m shares as it closed at Rs 7.66 after opening at Rs 6.72. Lafarge Pak was the second highest on volume chart with 8.778m million shares marginally up by Re 0.01 to Rs 16.61.

It was followed by DG Cement  with 7.052mshares shed Rs 1.9 to Rs 78.80, National Bank with 6.881 million shares extended by Re 0.32 to Rs 60.82 and Pak Elektron SPOT with 6.441 million shares up by Re 0.07 to Rs 27.46.