KARACHI -


Without heavy weight MCB, market would have closed in negative amid profit-taking in oil stocks. Fertilizer stocks also witnessed profit-taking after news of cut in gas supply from SNGPL network. Volumes, however, declined to Rs 10b with major activity remained confined towards mid cap stocks, dealers observed here on Friday.
At local equity market benchmark KSE-100 share index added 82.26 points or 0.37 percent to end the day at 22358.96 points compared to 22276.70 points of the previous day.  KSE-Allshare index up by 27.01 points or 0.17 percent to end the day at 15646.69 points, KSE-30 share index increased by 91.99 points or 0.53 percent to finish the day at 17421.87 points while KMI-30 share index reduced by 27.02 points or 0.07 percent to conclude the session at 37900.39 points.
Analysts said renewed foreign interest, hopes for easing circular debt concerns in energy sector, recovery in global commodities and speculations on higher local urea prices on gas shortages on SNGPL network, played a catalyst role in bullish sentiments in the pre-budget rally at KSE.
Market traded 340.240 million shares after opening at 462.640 million shares million shares and the value of traded shares was minimised to Rs 10.611 billion from Rs 12.416b. The capitalisation of local equity market maintained at Rs 5.390 trillion compared to Rs 5.381 trillion of a day earlier.
As many as 373 companies traded on Friday where 195 closed in positive and 168 in negative while the value of 10 stocks remained intact. Nestle Pak was the biggest loser of the day down by Rs 250 to Rs 6150 followed by Wyeth Pak Limited decreased by Rs 50 to Rs 1550. Colgate Palmolive and Abbott Lab were led the upward trend increased by Rs 40.50 to Rs 1899 and Rs 15.41 to Rs 323.63.
Lotte Chemical was the top traded company of the day with 23.776 million shares as it closed at Rs 8.89 after opening at Rs 8.76. It was followed by Fatima Fertilizer with 23.347 million shares up by Re 0.73 to Rs 26.06, BOP (R) with 22.272 million shares shed by Re 0.07 to Rs 4.89, PTCLA with 18.415 million shares off by Re 0.01 to Rs 22.52 and TRG Pakistan Limited with 15.003 million shares grew by Re 0.15 to Rs 11.62.  In weekly review equity dealer Samar Iqbal said after oath taking of new government coupled with continuous heavy foreign inflows market continued its bull run.
KSE-100 index crossed yet another milestone of 22,000 points mark after closing above 22,300.  Nine year low CPI also supported the bull sentiment as investors are expecting monetary easing in coming months, she added.