KARACHI  - The KSE benchmark 100 index posted a fresh gain of 183 points on the last day of trading week as it closed at 26913.85 level compared to 26730.24 level of the previous day.

The week saw KSE-100 index gaining 426 points, however participation declined by 10pc as average volumes declined to Rs9.4b (due to 4 working days in the week). Highlight of the week remained MSOT deal which brought in renewed investors’ interest in textiles sector scrips and positive steps taken in the latest ECC meeting on Engro’s gas supply situation, equity dealer Asad observed here.

KSE-Allshare index gained 59.78 points of 0.30 percent to end the session at 20007.45 points, KSE-30 share index increased by 119.16 points or 0.61 percent to finish the day at 19697.62 while KMI-30 share index up by 64.03 points or 0.14 percent to conclude the session at 44546.32 points. Analyst at Arif Habib Corp, Ahsan Mehanti said bullish activity witnessed at KSE amid speculations in second and third tier stocks ahead of corporate earning announcements.

ECC approvals on concessionary gas to Engro Fertilizers, limited expectations for revision in SBP policy rate decisions later today (on Friday), SOEs privatisation announcements and 3G licence auctions played a catalyst role in bullish activity despite concerns for rising circular debt in energy sector and US new conditions for release of $33m aid. The day turn of market in term of shares was 336.136 million shares compared to 348.056 million shares of the previous day. Market climbed to Rs 11.123 billion compared to Rs 9.289 billion and the capitalisation of market settled at 6.526 trillion after opening at Rs 6.471 trillion of the previous day. 

Trading took place in 400 companies where gainers outnumbered the losers 233 to 152 while the value of 15 stocks remained intact. The biggest price loser of the day was Nestle Pak decreased by Rs 480 to Rs 9220 followed by Rafhan Maize down by Rs 175 to Rs 7765. Unilever Foods and Bata (Pak) were the top price gainers of the day increased by Rs 447.35 to Rs 9995 and Rs 145 to Rs 3045.

Active list was topped by JS Company with 38.357 million shares off by Re 0.20 to Rs 12.05. Lotte Chemical was on the second position with 20.041 million shares up by Re 0.31 to Rs 8.10. It was followed by KESC with 14.667 million shares without any change maintained at Rs 6.76, Azgard Nine with 14.661 million shares misplaced by Re 0.23 to Rs 8.92.

 and JS Investment with 13.810 million shares higher by Re 0.78 to Rs 13.27 respectively.