Index gains 62.84 points

The KSE-100 index on Thursday gained another 62.84 points to close at the level of 11,762.00 points on the back of local investors and institutions support. "Fresh buying by local investors after mid session supported the KSE-100 index to close well above 11,700 psychological level, despite foreign selling", analysts said.
The foreign investors opted for profit taking and remained net sellers of shares worth $2.18 million. After positive opening, the index remained oscillating between 11,773.16 points intra-day high and 11,644.97 points intra-day low levels, however late buying by local investors supported the index to close in positive with healthy gains.
Trading activities also improved, as the volumes at ready counter increased to 162.438 million shares, as compared to 143.291 million shares traded on Wednesday. The overall market capitalisation increased by Rs 17 billion to Rs 3.174 trillion. Out of the total 375 active scrips, 192 closed in positive and 102 in negative, while the value of 81 scrips remained unchanged.
Lotte Pakistan PTA was the volume leader with 46.033 million shares and gained Re 0.34 to close at Rs 16.01. NBP surged by Rs 3.75 to close at Rs 78.91 with 10.974 million shares. Hub Power Co. inched up by Re 0.90 to close at Rs 39.56 with 10.428 million shares. Nishat Mills increased by Rs 2.67 to close at Rs 64.98 with 6.206 million shares. Arif Habib Corp gained Re 0.40 to close at Rs 20.63 with 5.993 million shares. Nishat (Chunian) inched up by Re 0.83 to close at Rs 26.22 with 5.694 million shares. Dewan Salman gained Re 0.26 to close at Rs 2.92 with 5.457 million shares.
Fauji Fertiliser Bin Qasim inched up by Re 0.24 to close at Rs 41.24 with 4.959 million shares. JS Growth Fund gained Re 0.30 to close at Rs 5.99 with 4.818 million shares. Nimir Ind. Chemical increased by Re 0.20 to close at Rs 2.76 with 4.292 million shares. Rafhan Maize and Unilever Pak were the highest gainers increasing by Rs 105.11 and Rs 86.45 to close at Rs 2612.46 and Rs 4608.41, respectively, while Unilever Foods and Siemens Pak were the worst losers declining by Rs 59.90 and Rs 14.35 to close at Rs 1197.58 and Rs 977.00, respectively.
Ahsan Mehanti at Arif Habib Investments said that the bullish activity witnessed in the earning announcement session led by fertiliser and banking sector scrips on higher banking spreads and strong valuations. He said that the expectations over early launch of leverage product invited fresh buying after mid session and the index successfully sustained over 11,700 psychological level. The commitment of double assistance to Pakistan on Foreign Aid by UK also encouraged the investors to take fresh positions despite concerns for rising inflation and political disagreement on rising local petroleum prices, he added.