KARACHI

Stocks closed all time high led by oil, banking and cement stocks after Moody’s changes outlook on 5 banks to stable from negative following upgrade on Pakistan’s foreign currency rating to stable this week, expert observed here on Thursday.

The stock benchmark KSE-100 share index posted a fresh gain of 400.94 points or 1.35 percent to end the day at 30177.11 points compared to 29776.17 points of a day earlier.  KSE-Allshare index added 240.32 points or 1.10 percent to stop the day at 22129.29 points, KSE-30 index gained 315.86 points or 1.53 percent to finish the session at 20970.26 points while KMI-30 index increased by 743.12 points or 1.54 percent to conclude the session at 48960.21 points.

Ahsan Mehati analyst at Arif Habib said renewed foreign interest and speculations ahead of SBP policy announcement on July 19 played a catalyst role in bullish sentiments at KSE despite prevailing political crisis. The day turnover of bourse was 206.262 million shares after opening at 112.800 million shares and the value of traded shares was climbed to Rs 11.255 billion from Rs 6.114 billion while the capitalisation of the market maintained at Rs 7.072 trillion compared to Rs 6.995 trillion of a day earlier.  Out of 349 companies 221 closed in green and 96 in negative while the value of 32 stocks remained intact. Nestle Pak was the biggest price loser of the day decreased Rs 150 to Rs 8000 followed by Wyeth Pak Ltd shed Rs 149.53 to Rs 3870.51. Island Textile and National Foods were the biggest price gainers of the day up by Rs 40.75 to Rs 898.75 and Rs 35.12 to Rs 778.43.  Samar Iqbal AVP at Topline Securities said index gained 1.33pc to close above 30,100 points, for the first time ever. Local bourse rallied amid continues healthy foreign inflows. During the on going month, $33.7m foreign inflows received till July 16, 2014. MCB, UBL, NBP, ABL and HBL rallied after Moody’s raised outlook on these banks to stable from negative.

Fauji Cement topped the volume chart with 20.302 million shares up by Re 0.96 to Rs 21.21. K-Electric was the second highest with 18.260 million shares added Re 0.30 to Rs 7.77. It was followed by Maple Leaf Cement with 13.518 million shares grew by Re 0.84 to Rs 31.49, Lafarge Pak with 11.357 million shares up by Re 0.12 to Rs 16.12 and Pak Elektron Ltd with 10.619 million shares as it closed at Rs 30.01 after opening at Rs 28.66.