KARACHI - After a steep fall yesterday market gained 100 points on Thursday amid some serenity on political front while volumes remained low. Activity remained confined towards mid cap stocks with JSCL, BYCO and MLCF topped the volume which together contributed 35pc of over all volume. Cherry picking in FFC, IPPs and cement stocks was also seen.
At local equity market benchmark KSE-100 share index posted a fresh gain up by 0.60 percent or 98.55 points to stop the day’s trading at 16,588.54 points as compared to 16,489.99 points of the previous day.
Stocks showed recovery at KSE led by oil, fertilizer and cement sectors amid thin activity on hopes for early resolution of political issues over implementation of constitution. Higher international oil prices and strong earnings outlook played a catalyst role in bullish sentiments in oversold market amid concerns for energy crisis and falling foreign interest, analyst observed here on Thursday.
KSE-Allshare index increased by 0.56 percent or 65.56 points to end the day at 11,729.93 points, KSE-30 share index gained 0.54 percent or 73.34 points to close the day at 13,549.08 points while KMI-30 share index improved by 0.43 percent or 122.11 to finish the day at 28,683.84 points.
The day turnover in terms of shares settled at 102.481 million shares compared to 241.220 million shares of the previous day. Value of traded shares was minimised to Rs 2.424 billion from Rs 5.561 billion of a day earlier and the capitalisation of local equity market matured at Rs 4.158 trillion after opening at Rs 4.134 trillion.
Trading took place in 322 companies where gainers held the strong lead over the losers 222 to 78 while the 22 stocks not changed. Unilever Food was the top loser of the day down by Rs 220 to Rs 4180 followed by Siemens Pakistan XD decreased by Rs 12.43 to Rs 625. Unilever Pak and Shezan Inter were the biggest price gainers of the day up by Rs 129.95 to Rs 10199.33 and Rs 19.10 to Rs 401.10.
JS Company was the volume leader of the day with 17.320 million shares up by Re 0.99 to Rs 15.76. It was followed by Byco Petroleum with 10.487 million, Maple Leaf Cement with 7.192 million, Azgard Nine with 3.990 million, Nishat (Chunian) with 3.666 million, Bank of Punjab with 3.267 million, Colony Mills Ltd with 2.898 million, Fauji Fertilizer with 2.742 million, PIAC (A) with 2.432 million and KESC with 2.330 million shares respectively.