Index up 31.81 points

Positive trend was witnessed at the Karachi share market on Wednesday on the back of local investors' support, and the KSE-100 index gained 31.81 points to close at 11,933.18 points. "Foreign investors opted for profit taking and emerged net sellers of shares worth $0.8 million. However, reviving local investors interest supported the index to close in green", analysts said.
After positive opening the index hit 11,994.02 points intra-day high level, up 92.65 points. However, profit taking in late hours in some stocks minimised the gains. Trading improved and the volumesat ready counter increased to 88.303 million shares as compared to 74.126 million shares traded on Tuesday.
Market capitalisation increased by Rs 8 billion to Rs 3.179 trillion. Of 358 active scrips, 161 closed in positive and 95 in negative, while the values of 102 stocks remained unchanged. Bank Al Falah was volume leader with 7.928 million shares and gained Re 0.40 to close at Rs 10.75. BoP lost Re 0.14 to close at Rs 6.47. Lotte Pakistan PTA closed at Rs 15.86, down Re 0.01 with 5.195 million shares. JS Value Fund inched up by Re 0.22 to close at Rs 5.73 with 3.714 million shares.
DG Khan Cement gained Re 0.15 to close at Rs 25.39 with 3.445 million shares. Engro Corp increased by Re 0.56 to close at Rs 205.23 with 3.381 million shares. Pace (Pak) lost Re 0.24 to close at Rs 3.72 with 3.005 million shares. TRG Pakistan inched up by Re 0.02 to close at Rs 3.00 with 2.619 million shares. KESC gained Re 0.06 to close at Rs 2.69 with 2.345 million shares. Engro Polymer closed at Rs 13.28, up Re 0.34 with 2.248 million shares.
Unilever Pak and Unilever Foods were the highest gainers increasing by Rs 271.57 and Rs 55.44 to close at Rs 5703.03 and Rs 1338.30 respectively, while Fazal Textile and Tri-Pak Films were the worst losers declining by Rs 19.47 and Rs 8.32 to close at Rs 369.97 and Rs 159.19 respectively. Hasnain Asghar Ali at Aziz Fidahusein Co said that bulls stood strong right for the early trade, led by fertiliser sector stocks, and the bull-run did invite renewed buying interest in various frontline stocks.
He said that rising trend in oil prices in international market did invite renewed buying by market men in the beneficiary stocks, mainly the oil and gas exploration and refinery sector stocks. However, the stocks which faced a rundown on the high earned reserves, mainly from the government sector, failed to join the momentum, while various high priced stocks, joining the momentum, faced sell-off on strength, minimising gains by day's end. Sustaining green was, indeed, an uphill task, mainly in high priced stocks.