Index gains 28.12 points

Fresh buying on dips supported the KSE-100 index on Tuesday to recover 28.12 points and to close at 11,930.24 points. After positive opening the index breached 12,000 points level to hit 12,032.80 points, up 130.68 points. Trading improved and the volume at ready counter increased to 63.354 million shares as compared to 44.895 million shares traded on Monday.
Market capitalisation increased by Rs 8 billion to Rs 3.166 trillion. Of 359 active scrips, 151 closed in positive and 97 in negative, while the values of 111 scrips remained unchanged. DG Khan (R) was the volume leader with 7.835 million shares. However, it lost Re 0.39 to close at Re 0.70. Pace (Pak) gained Re 0.17 to close at Rs 2.78 with 7.115 million shares. Jahangir Siddiqui Co inched up by Re 0.27 to close at Rs 7.46 with 6.387 million shares.
SilkBank increased by Re 0.26 to close at Rs 2.86 with 6.236 million shares. Lotte Pakistan PTA lost Re 0.02 to close at Rs 14.98 with 5.502 million shares. DG Khan Cement decreased by Re 0.19 to close at Rs 21.38 with 4.184 million shares. Azgard Nine inched up by Re 0.02 to close at Rs 5.79 with 2.512 million shares. Nishat Mills increased by Rs 1.20 to close at Rs 58.18 with 2.071 million shares. PTCL lost Re 0.05 to close at Rs 16.81 with 1.329 million shares.
Nestle Pakistan and Bata (Pak) were the highest gainers increasing by Rs 11.99 and Rs 8.87 to close at Rs 3523.00 and Rs 445.01 respectively, while Wyeth Pak and Siemens Pak were the worst losers declining by Rs 35.00 and Rs 29.03 to close at Rs 848.39 and Rs 976.65 respectively. Ahsan Mehanti at Arif Habib Investments said that the market witnessed recovery on the back of fresh buying in select stocks.
However, trading remained low as the investors remained on sidelines ahead SBP monetary policy, to be announced on May 21. He said developments in US-Pak bilateral relationships after agreements on counter terrorism with US Senator Kerry, expectation of positive outcome for Pak-IMF talks on economic development and federal budget invited foreign and institutional support in blue chip scrips that supported the index to register gains.