KSE 100-index adds 93 points

KARACHI - Buying activity continued at the equity market on Tuesday on the back of foreign interest as the KSE-100 index added another 93 points to close at 8,769 points on Tuesday. Investors took positions in blue-ships despite intra-day profit taking by the institutions. Moreover, rise in fertilizer sales by 261pc and increase in local petroleum prices played an important role in positive activity at the KSE. Trading activity showed strong signs of improvement in past couple of sessions as the market volume dramatically inched up to 302.831m shares compared with Mondays 260.417m shares. Total trading value of the stock exchange further increased to Rs 20.172b against Rs 12.502b of last trading session. The bourse kicked-off with a gain of 62.31 points and the 100-index swung up and down throughout the day, making high of 8,938.44 points before dropping to intraday low of 8,565.60 points. However, the index closed the day at 8,769.24 points, adding 93.57 points. Meanwhile, the KSE 30-index closed at 9,446.02 points with a gain of 124.75 points. The index surged forward on the back of OGDC, which reached its upper cap without much resistance and inflated the index substantially. The market travelled speedily to reach the height of 8,938 points but latter lost hope and turned red before recovering to close the index at 8,769 points. Market capitalization stood over Rs 2.559tr, showing an increase of Rs 23b in just one session. Of 373 active scrips at the Karachi stock market, 175 managed to advance, at least 177 declined while the value of the stocks of 20 cos remained unchanged. OGDC the volatility master beating the index with an impressive upper lock, but later turned blood red as if something has drastically impacted the stock. NBP tried to match its unmatchable pair MCB with some gains. But at the same time, MCB hit another upper cap. UBL and HBL also move forward along with rest of the banking sector. E&P giant OGDC was crowned as the volume leader of the day with a healthy turnover of 38.411m shares, followed by Pak PTA with 27.666m shares, NBP 18.389m shares, FFBL 15.210m shares, Bank Al-Falah 14.681m shares, JSCL 14.109m shares, AHSL 13.675m shares, DGKC 12.826 million shares, Pak Oilfields 12.540m shares, PTCL 11.731m shares namely. Top gainers at the KSE include Bata Pak, up by Rs40.37/share to close at Rs885, Nestle Pak (SPOT) gained Rs32.20/share and its total value was improved to Rs1,30, Fazal Textile added Rs16.43/share and closed at Rs445.67, MCB Bank (SPOT) up by Rs10.24/share, closing at Rs215.15, Pak Engineering added Rs10.10/share to close at Rs212.11 with a small turnover of only 10 shares. Conversely, Rafhan Maize lost massive Rs75/share to close at Rs1,500, Wyeth Pak down by Rs10.40/share, closing at Rs1,208.60, Grays of Camb Pak lost Rs6.25/share and closed at Rs135.50 with the trading of only 2 shares, Pak Oilfields down by Rs5.41/share and its total value was decreased to Rs201.03, PSO lost Rs5.09/share to close at Rs284.23.

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