Index gains 63.02 points

The Karachi share market witnessed a positive trend on Monday on the back of investors'' interest at low levels and the KSE-100 index increased by 63.02 points to close at the level of 12,253.39 points. The market opened on a positive note and the index hit 12,328.99 points intra-day high level, up 138.62 points and remained in green territory throughout the session.
Trading, however, remained low and the volume at ready counter declined to 38.935 million shares as compared to 46.165 million shares traded on last Friday. Market capitalisation increased by Rs 16 billion to Rs 3.236 trillion. Of the 321 active scrips, 120 closed in negative and 110 in positive, while the values of 91 stocks remained unchanged.
WorldCall Telecom was the volume leader with 3.628 million shares and gained Re 0.03 to close at Rs 1.68. NIB Bank (R) closed at the previous session''s closing level of Re 0.01 with 2.213 million shares. Fauji Fertiliser Co and Fauji Fertiliser Bin Qasim increased by Rs 2.46 and Re 0.17 to close at Rs 162.32 and Rs 46.99 with 2.138 million shares and 1.945 million shares respectively. Engro Corp declined by Re 1.14 to close at Rs 141.75 with 1.799 million shares. Nishat Mills decreased by Rs 1.04 to close at Rs 46.35 with 1.945 million shares.
NBP and NIB Bank declined by Re 0.23 and Re 0.04 to close at Rs 53.65 and Rs 1.38 with 1.536 million shares and 1.383 million shares respectively. Jahangir Siddiqui Co lost Re 0.03 to close at Rs 6.78 with 1.325 million shares. Lucky Cement gained Re 0.28 to close at Rs 73.40 with 1.204 million shares. Unilever Pak and Colgate Palmolive were highest gainers, increasing by Rs 131.07 and Rs 12.76 to close at Rs 5929.70 and Rs 750.00 respectively, while Bata (Pak) and Millat Tractors were the worst losers, declining by Rs 21.11 and Rs 7.15 to close at Rs 636.71 and Rs 589.31 respectively.
Ahsan Mehanti at Arif Habib Investments said that the sentiment remained bullish at KSE amid thin trade after SBP cuts key policy rate by 50bps. He said that strong recovery in global capital and commodity markets after US President Obama announced US debt ceiling deal and expectations for record earning announcements this week played a catalytic role in bullish activity at KSE.