OUR STAFF REPORTER

KARACHI – The Karachi stock market closed marginally higher on Monday amid thin trading activity. Institutional support in oil scrips on account of higher international oil prices supported the market. Foreign interest remained low.

The benchmark KSE 100-share index inched up 0.28 per cent or 9.26 points to close at 11,310.35 levels. KSE all-share index gained 0.10 per cent or 7.46 points to end at 7,826.23, KSE 30-index fell 0.25 per cent or 25.83 points to finish at 10,292.58, while KMI 30-index ended down 0.23 percent or 47.8 points to finish the day at 20,416.2.

In broader market, a total of 301 companies changed hands during the course of the day where prices of 102 issues declined, 92 advanced, while values of 107 scrips stayed unchanged at previous day’s levels.

Fatima Fertilizer Company was the top traded company of the day with trading of 3.381 million shares, followed by NIB Bank Limited, Jahangir Siddiqui Company, Engro Corporation, and Dera Ghazi Khan Cement Limited with turnovers of 1.634 million, 1.198 million, 1.079 million, and 0.649 million shares respectively. Nestle Pakistan XD was the top price gainer of the day with an increment by 138.66 rupees to close at 2,969.91 rupees while on the other hand UniLever Pakistan Foods led the major decliners of the day with a decrement by 30 rupees to finish the day at 1,670 rupees.

“Easing political concerns and expectation of early resolution of CGT issue played a catalyst role in positive close despite concerns for energy shortages in the country affecting industrial growth,” said Ahsan Mehanti Director Arif Habib Investment in his analysis.  APP adds from Islamabad: Islamabad Stock Exchange on Monday witnessed bearish trend as the ISE 10-index shed 7 points to close at 2589.16 points.

Stock Analyst, Ismail Iqbal Pvt Ltd, Zaheer Ahmed told APP that the Prime Minister’s direction to Finance Minister for restructuring of government entities caused positive sentiments in the local bourse which would stabilize overall economy of the country.

“Among other initiatives for stabilizing of the economy, the investors are expecting that government would take a step to abolish Capital Gain Tax (CGT)”, he added.

Total volume of shares traded was 42,675, which was up by 39,675 as compared to the previous day’s closing. Out of 99 companies shares traded, the price of 45 increased while that of 54 companies decreased.

The price of top gainer Siemens Pakistan Engineering closed at Rs.932.53 with an increase of Rs.43.64 while the price of top loser Unilever Pakistan closed at Rs.5502.82 with a decrease of Rs.21.35.

Bank of Punjab (BOP), Bank Alfalah (BAFL) and United Bank Limited (UBL) remained volume leaders on Monday.