Index gains 5.2 points

The KSE-100 index on Thursday gained 5.2 points to close at the level of 11,302.22 points on the back of local investors and institutional interest. Foreign investors, however, opted for profit taking and withdrew $2.6 million from the local equity market.
The market opened on a positive note and the index hit 11,365.43 points intra-day high, up 68.41 points. However profit taking in some selective stocks minimised the intra-day gains. The index briefly visited negative zone at 11,291.70 points intra-day low level, however, managed to close in positive.
Trading activities remained low as the volumes at ready counter declined to 54.110 million shares as compared to 75.725 million shares traded on Wednesday. Total market capitalisation increased by Rs 11 billion to Rs 3.002 trillion. Out of the total 337 active scrips, 143 closed in positive and 112 in negative while the value of 82 stocks remained unchanged.
Fertiliser sector led the rally, as Fauji Fertiliser Bin Qasim, Fatima Fertiliser Co and Engro Corp increased by Rs 1.08, Re 0.11 and Rs 2.31 to close at Rs 52.75, Rs 17.28 and Rs 135.35 with 8.140 million shares, 17.28 million shares and 135.35 million shares respectively. Arif Habib Corp gained Re 0.90 to close at Rs 27.68 with 5.950 million shares. Lotte Pakistan PTA inched up by Re 0.02 to close at Rs 12.80 with 3.502 million shares. Hub Power Co closed at Rs 40.26, up Re 0.28 with 3.252 million shares.
NBP gained Re 0.23 to close at Rs 44.60 with 2.077 million shares. Netsol Technologies lost Re 0.38 to close at Rs 15.19 with 1.971 million shares. DG Khan Cement inched up by Re 0.25 to close at Rs 20.55 with 1.796 million shares. Azgard Nine decreased by Re 0.14 to close at Rs 5.03 with 1.579 million shares.
Sanofi-Aventis and Indus Dyeing were the highest gainers increasing by Rs 5.95 and Rs 5.83 to close at Rs 152.95 and Rs 351.58 respectively while Unilever Foods and Unilever Pak were the worst losers declining by Rs 82.36 and Rs 67.84 to close at Rs 1654.00 and Rs 5233.83 respectively.
Ahsan Mehanti at Arif Habib Investments said that the stocks closed higher at KSE amid thin trade on strong earnings outlook. He said that the renewed foreign and institutional interest was witnessed in commodity and power sector scrips on higher local cement and fertiliser prices. "The recovering global stocks and commodities played a catalyst role in the positive sentiment in the earnings announcement session", he said adding that the rumours dominated the market sentiment on hopes for favourable policy announcement by SBP this month end.