KARACHI  - After witnessing pressure at 25,000 points level for past 4 consecutive trading sessions, the market finally closed above the mentioned psychological barrier.
By the support of better participation, the benchmark KSE 100-index gained 99 points and made a new high of 25072 points as compared to 24972.90 points of the previous day.
Former director KSE Zafar Motti said higher volumes (up 24% to Rs8.9b) were led by investors’ interest in textile sector stocks. KSE allshare-index went up by 60.90 points or 0.33 percent to close the day at 18573.12 points, KSE 30-share index gained 18.23 points or 0.10 percent to close the day at 18729.27 points while KMI 30-share index added 199.95 points or 0.48 percent to finish the day at 41936.05 points.
Equity dealer Asad Qureshi said news flows regarding Etisalat’s team visiting Pakistan on December 18 to discuss payment of $800 kept PTC on investors’ radar. Such high interest enabled PTC to lead the volumes’ chart with 21.6m shares traded. CML with 14.6mn shares traded was ranked 2nd, followed by JSCL with volume of 13.2mn.
The day turnover of stock market in terms of shares was 207.712 million as compared to 179.832 million shares of the previous day and the value of traded shares climbed to Rs 8.920 billion from Rs 7.206 billion. Capitalization of the market maintained at Rs 6.041 trillion as compared to Rs 6.031 trillion of a day earlier. Ahsan Mehanti observed investors speculated over expected release of $850m coalition support funds easing rupee instability. Expected announcements of over $1.2b 3G licence auctions in telecom sector played a catalyst role in bullish sentiments at KSE despite concerns for higher government borrowings and over Rs.216bnunsettled circular debt in energy sector, he added. Trading took place in 382 companies where gainers outnumbered the losers by 243 to 109 while the values of 30 stocks remained intact. Bata (Pak) led the top gainers, up by Rs 132.04 to Rs 2800, followed by Island Textile with the addition of Rs 45.15 to Rs 948.15. Unilever Foods and Rafhan Maize were the biggest losers of the day, decreased by Rs 188 to Rs 10608 and Rs 50 to Rs 8000.
PTCLA witnessed the highest turnover and topped the active list with 21.622 million shares as it closed at Rs 30.94 after opening at Rs 30.56. Colony Mills Ltd was on the second position with 14.557 million shares, grew by Re 0.42 to Rs 5.11. It was followed by JS Co with 13.195 million shares, higher by Re 0.27 to Rs 9.22, Nishat (Chunian) with 11.217 million shares, up by Rs 1.92 to Rs 56.50 and Fauji Cement with 9.864 million shares, increased by Re 0.25 to Rs 13.86.