KSE index gains 57.03 points

The KSE-100 index on Friday gained 57.03 points to close at 11,905.87 points on the back of investors' interest, mainly in blue chip oil sector stocks. The market opened on a positive note and the index hit 11,955.06 points intra-day high level. However, profit taking in late hours reduced the intra-day gains.
Trading remained low and the volume at ready counter declined to 68.086 million shares as compared to Thursday's 75.091 million shares. Market capitalisation increased by Rs 15 billion to Rs 3.173 trillion. Of 373 active scrips, 155 closed in positive and 114 in negative, while the values of 104 scrips remained unchanged.
Bank Al Habib was the volume leader with 5.568 million shares and gained Re 0.80 to close at Rs 30.49. Bank Al Falah inched up by Re 0.11 to close at Rs 11.08 with 2.647 million shares. POL surged by Rs 8.07 to close at Rs 330.62 with 4.752 million shares. Lotte Pakistan PTA gained Re 0.10 to close at Rs 15.84 with 4.478 million shares. Jahangir Siddiqui Co lost Re 0.11 to close at Rs 8.03 with 3.543 million shares. Pace (Pak) inched up by Re 0.10 to close at Rs 3.67 with 3.098 million shares.
Azgard Nine lost Re 0.08 to close at Rs 8.15 with 2.529 million shares. Pak Reinsurance declined by Re 0.24 to close at Rs 19.96 with 2.153 million shares. Engro Corp increased by Re 1.00 to close at Rs 204.80 with 1.786 million shares. WorldCall Telecom gained Re 0.15 to close at Rs 2.76 with 1.769 million shares.
Wyeth Pak and Pak Oilfields were the highest gainers, increasing by Rs 45.53 and Rs 8.07 to close at Rs 995.53 and Rs 330.62 respectively, while Unilever Pakistan and Nestle Pakistan were the worst losers declining by Rs 266.59 and Rs 45.50 to close at Rs 5160.46 and Rs 3517.88 respectively.
Ahsan Mehanti at Arif Habib Investments said that bullish activity was witnessed, led by blue chip scrips in oil sector after US Brent crude crossed $122 per barrel on political turmoil in Middle East and Libya. He said that institutional and foreigners' interest continued ahead of quarter end earning announcements after Pakistan agreed to work with US against militancy despite concerns for rising fiscal deficit and inflation in the country.