Index gains 51.56 points

Bullish trend was observed at the Karachi share market on Monday and the KSE-100 index closed at 30-month highest level of 11,909.73 points, with a net gain of 51.56 points. The market opened on a positive note, and the index hit 11,943.84 points intra-day high. The index remained in the green throughout the session.
Trading remained low and the volume at ready counter shrank to 85.156 million shares as compared to 87.013 million shares on last trading session. Market capitalisation increased by Rs 16 billion to Rs 3.238 trillion. Of 403 active scrips, 236 closed in positive and 144 in negative, while 23 scrips remained unchanged.
DG Khan Cement was the volume leader, with 6.377 million shares and gained Re 0.33 to close at Rs 30.27. Fauji Fertiliser Bin Qasim increased by Re 0.86 to close at Rs 37.31 with 6.285 million shares. Lotte Pakistan PTA inched up by Re 0.09 to close at Rs 13.59 with 5.481 million shares. Fatima Fertiliser Co gained Re 0.82 to close at Rs 10.80 with 4.489 million shares.
Arif Habib Corp surged by Rs 1.19 to close at Rs 25.02 with 4.212 million shares. Azgard Nine inched up by Re 0.04 to close at Rs 10.19 with 3.852 million shares. Jahangir Siddiqui Co gained Re 0.12 to close at Rs 11.34 with 3.442 million shares. JS Growth Fund increased by Re 0.14 to close at Rs 5.35 with 3.129 million shares.
Engro Corporation surged by Rs 2.43 to close at Rs 199.56 with 2.325 million shares. DS Ind lost Re 0.11 to close at Rs 1.88 with 2.203 million shares. Unilever Pak and Dawood Hercules were the highest gainers increasing by Rs 27.77 and Rs 7.85 to close at Rs 4390.01 and Rs 196.04 respectively, while Rafhan Maize and Dreamworld were the worst losers declining by Rs 62.17 and Rs 33.45 to close at Rs 2127.82 and Rs 635.55 respectively.
Hasnain Asghar Ali at Aziz Fidahusein Co said that while the market men continued to celebrate the appointment of Chairman SECP Chairman, well acquainted with affairs of the local equity market raised the expectations of an early launch of the flexible ready board leverage product. However, the liquid corporate participants placed the liquidity in the stocks having capacity of beating the high yields risk-free returns being offered by no-risk government papers, through opportunities of capital gains and dividend yields.
He said that the fertiliser stocks invited aggressive interest, mainly by the local participants, while the stocks which are likely to face a tough time due to high debts and low growth in local and export demand kept the participants cautious. However, the stocks having support of the respective groups did invite turnover due crossings and hand change, mainly due to portfolio dressing, ahead of financial year end, thus keeping green the colour of the day. Snap rallies' anticipation of portfolio appreciation in holding companies did provide a low risk trading opportunity to the market men.