KARACHI - Volumes at Karachi bourse touched 2-year high with more than 350 million shares traded due to retail investors’ interest in smaller cement stocks.

At local bourse benchmark KSE-100 index was higher by 26.44 points or 0.20 percent at 13,271.39 as compared to 13,244.95 points a day earlier.

Equity dealer Samar Iqbal said investors think that large cement companies have already performed and it is time to accumulate small cement stocks. Oil stocks remained under pressure with low volumes. 

KSE-Allshare index gained 38.95 points or 0.42 percent to finish the day at 9,258.31 points, KSE-30 share index lost 49.87 points to conclude the day at 12,072.52 points while the KMI-30 share index gained 39.80 points to stop the day at 23,205.24 level.

Analyst observed that recovery in global stocks and commodities after developments in Greece crucial debt swap, retail and institutional support ahead of reformed CGT regime implementation, resumption of gas supplies in fertilizer sector, easing circular debt concerns in power sector played a catalyst role in bullish sentiments at KSE despite concerns for rising current account deficit on higher global commodities.

The active list again topped by Fauji Cement up 0.47 paisa at Rs 5.49 on 44.363 million shares followed by Lafarge Pakistan higher by 0.57 paisa at Rs 3.36 on 33.360 million shares, Azgard Nine added 0.57 paisa at Rs 7.85 on 18.486 million shares, Dewan Cement  up Re 1 at Rs 3.01 on 15.392 million shares and JS Bank Ltd higher by Re 1 at Rs 5.74 on 15.299 million shares.

Traded volume soared to 358.177 million shares from the previous 318.609 million shares. Trading took place in 391 stocks where gainers held a very strong lead over the loser 227 to 87 with 77 shares remaining unchanged at the last level.

The highest price gainers were led by Rafhan Maize Product and UniLever Pak Ltd increased by Rs 126.83 and Rs 49.99  while loser were led by Nestle PakistanXD and Siemens Pakistan decreased by Rs 39.80 and Rs 15.00 respectively.