Index gains 11.75 points

RECORDER REPORT

KARACHI: Late buying in some select stocks mainly by foreign investors on Thursday supported the KSE-100 index to close in positive at 11,969.05 points, marginally up by 11.75 points.

Despite selling by local investors and institutions, the offshore participants remained net buyers of shares worth $2.6 million. After negative opening, the index kept oscillating between 12,000.92 points intra-day high and 11,898.74 points intra-day low level throughout the session. Trading activity remained low as the volumes at ready counter declined to 48.732 million shares as compared to 55.885 million shares traded last day. Total market capitalisation increased by Rs 3 billion to Rs 3.119 trillion. Out of total 313 active scrips, 108 closed in negative, 96 in positive while the value of 109 stocks remained unchanged.

Bank Al Falah was the volume leader with 6.414 million shares gaining Re 0.27 to close at Rs 11.74. NBP lost Re 0.28 to close at Rs 44.89 with 4.395 million shares.

In the fertilizer sector stocks, Fauji Fertilizer Co (FFC) increased by Re 0.71 to close at Rs 182.64 with 2.863 million shares, while Engro Corp, Fatima Fertilizer Co and Fauji Fertilizer Bin Qasim declined by Rs 4.35, Re 0.13 and Re 0.65 to close at Rs 131.49, Rs 24.04 and Rs 59.87 with 3.902 million shares, 2.147 million shares and 1.585 million shares respectively. Arif Habib Corp lost Re 0.41 to close at Rs 31.10 with 3.766 million shares.

OGDC surged by Rs 1.01 to close at Rs 154.62 with 1.630 million shares. Jahangir Siddiqui Co lost Re 0.20 to close at Rs 5.88 with 1.578 million shares. Lotte Pakistan PTA inched up by Re 0.19 to close at Rs 11.24 with 1.388 million shares.

Unilever Pak and Unilever Foods were the top gainers with Rs 21.33 and Rs 16.67 to close at Rs 5624.93 and Rs 1690.00, respectively, while Attock Petroleum and Rafhan Maize were the worst losers with Rs 9.06 and Rs 4.70 to close at Rs 415.68 and Rs 2600.16, respectively.

Hasnain Asghar Ali at Aziz Fidahusein Co said that the local bourse on syndicated efforts energised by positive developments, restructuring of maturing T-bills and meeting of Pak-India leadership, successfully resisted otherwise an extensive decline, mainly on the fierce meltdown in international and regional equities and commodities, the index although failed to sustain the initial low volume high of 12,000, support by OGDC and MCB, the stocks contributed almost 40 points to the KSE-100 index.