KARACHI

The shares market remained bullish on Tuesday and KSE 100-index closed 97 points up. The index drifted in and out of the red for most of the trading session and finally closed at 35,922 points.
Renewed interest in cement stocks helped market to post some gains with rising volumes. Expectations of better June earnings helped cement stocks rallying. MLCF gained 5%, LUCK went up by 1.5%, and DGKC rose by 3%.
Continued institutional interest in ENGRO and EFERT helped both stocks. Small cap stocks like TRG, PACE and SILK Rights remained most active scrips with 28m shares, 21m shares and 21m shares respectively. Analyst Ahsan Mehanti observed, “Leveraged stocks in cement, fertilizer and textile sectors outperformed the index amid hopes for a fall in SBP key policy rates next month.
Recovery in global oil prices supported oil stocks near the session close. Speculations ahead of major corporate earning results due this week played a catalyst role in higher close at KSE.” The market was supported by autos, cements and fertilizers, with top gainers within cements and fertilizers being PIOC up 4.7%, MLCF 4.8%, EFERT 1.8% and FFC 1.1% respectively.
The auto sector continued with its positive trajectory, with MTL going up 1.6% and HINO by 5.0% as top performers, commented analyst Ahmed Saeed Khan at JS Global.