KARACHI

Bulls dominated the stock market on Wednesday and the KSE 100-index closed at 33585.75 points after gaining 214.46 points or 0.6 per cent.

Cement sector remained in the limelight led by DGKC (+2.7%) on the back of plummeting coal prices and strong local demand which will ensure healthy earnings. Oil &gas sector again remained under pressure as the global oil prices slid further. Auto sector continued its rally following the growth of 28% in sale during December as PSMC (+2.4%) and Honda Car (+1.3%) were major gainers, analyst at JS Global observed. He expected the market to remain bullish as the monetary policy is just around and a rate cut seems on the card.

Stocks close at an all time high led by selected scrips across the board on speculations ahead of major earning announcements this week, despite ongoing pressure in oil stocks on falling WTI crude oil prices near to $45/barrel, senior market analyst stated.

Volume rose to 383.56m shares as compared to 279m shares on Tuesday. Value of shares traded during the day was Rs17.75b. Shares of 404 companies were traded in the market. Of which, 238 were in advance, 147 in decline while 19 remained unchanged. Jah.Sidd.Co with 30.62m shares and price per share 16.40 was the volume leader in the market followed by PIA with 29.09m shares and price per share 8.90, Pak Elektron with 21.13m shares and price per share 49.05, TRG Pak with 20.76m shares and price per share 16.33 and Pak Int.Bulk with 16.64m shares and price per share 38.05.

Rafhan Maize with price per share 11750.00 (250.00) and Bata Pak with price per share 4100.00 (151.03) were among the gainers in the market. While Sapphire Tex with price per share 470.00 (-17.08) and Premium Tex with price per share 118.85 (-6.25) were among the losers.