KARACHI

Stocks on Monday showed recovery led by selected oil, fertilizers and cement sector scrips on strong institutional support.

Government decision on cut in power tariff invited interest in second and third tier cement stocks. Favourable CPI Inflation data, stronger rupee parity against dollar on expected $2b oil import bill reduction, Upbeat cement sales data for Nov’14, rising trend in DAP sales and concessionary gas to selected fertilizer units played a catalyst role in bullish activity at KSE despite concerns for rising receivables in energy sector and political protests in Punjab, said analyst Ahsan Mehanti at Arif Habib Corp.

The benchmark KSE-100 index increased by 100.28 points or 0.32 percent to close at 31,690.10 points level.

Market remained ranged bound amid PTI protest in Lahore. Institutional activity in oil stocks helped KSE benchmark post some gains. Drug companies also rallied which have been falling for last few sessions, said Samar Iqbal, analyst at Topline brokerage house.

The All-Shares Index increased by 82.64 points or 0.36 percent and settled at end of day at 29972.77, KSE-30 Index rose by 21.88 points and concluded at 20563.18 points, while the KMI-30 Index up by 319.42 points and closed at 51019.27 points end of day.

Higher and low were 31720.34 and 31509.78 respectively.

Volumes declined to 216m shares, while value increased to $126m (value PKR12.6b). The volume traded in the market was 239,526,364 and in term of value it was 15,118,196,984.

Total traded companies were 348 of which 157 showed upward trend, 173 were at decline while 18 remained unchanged.

Lefarage Pak lead the market with volume 13,246,000 with per share price per share 17.29 (0.44), while Jah Sidd.Co with volume 11,702,000 with price per share 15.04 (0.79) and Bank of Punjab with volume 9,564,000 and price per share 9.90 (0.16) stood second and third respectively.

Bata (Pak) with per share price 3489.99 (164.44) and Abbot Lab with per share price 753.26 (34.44) were among advancers.

Colgate Palmolive with price per share 1800.00 (-65.43) and Siemens Pakistan with per share price 1140.76 (-54.24) were among the decliners.