Fresh buying both by local and foreign investors on Tuesday supported the KSE-100 index to breach 12,600 points level to hit 12,623.93 points intra-day high. However, the index failed to sustain this level due to profit taking in late hours and closed at 12,576.48 points with a net gain of 16.20 points.
Trading improved and the volume at ready counter increased to 71.547 million shares as compared to 57.263 million shares traded on Monday. Market capitalisation increased by Rs 5 billion to Rs 3.308 trillion. Of 347 active scrips, 145 closed in positive and 96 in negative, while the values of 106 stocks remained unchanged.
BoP was the volume leader with 10.524 million shares and gained Re 0.49 to close at Rs 6.82. NBP and Bank Al Falah increased by Re 0.69 and Re 0.16 to close at Rs 54.00 and Rs 10.01 with 4.363 million shares and 1.898 million shares respectively. Fatima Fertiliser lost Re 0.15 to close at Rs 16.04 with 10.029 million shares. DG Khan Cement inched up by Re 0.44 to close at Rs 23.75 with 4.317 million shares.
Hub Power increased by Re 0.46 to close at Rs 38.94 with 2.802 million shares. POL surged by Rs 9.74 to close at Rs 372.70 with 2.722 million shares. Fauji Fertiliser Bin Qasim gained Re 0.67 to close at Rs 42.97 with 2.510 million shares. Nimir Ind Chemicals inched up by Re 0.02 to close at Rs 2.98 with 2.064 million shares. Azgard Nine increased by Re 0.19 to close at Rs 5.92 with 1.773 million shares.
Unilever Pak and POL were the highest gainers increasing by Rs 11.31 and Rs 9.74 to close at Rs 5299.69 and Rs 372.70 respectively, while Nestle Pakistan and Rafhan Maize were the worst losers declining by Rs 263.47 and Rs 6.44 to close at Rs 5097.82 and Rs 2554.17 respectively.
Ahsan Mehanti at Arif Habib Investments said that bullish activity continued in scrips across the board, led by commodity stocks, ahead of fiscal year end earning announcements. He said that stable global commodities prices, renewed foreign interest in blue chip scrips supported the market amid thin trade at KSE despite investor concerns on SBP third quarter report for FY11 indicating rising fiscal deficit and government debt.
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