Index gains 132.19 points

The investors' interest revived on Tuesday at attractive low levels on expectation of early launch of leverage product and the benchmark KSE-100 index registered healthy gain of 132.19 points to close at 12,078.28 points. The market opened at the positive note and the index hit 12,139.84 points intra-day high level.
Trading activities also improved due to active participation of local investors and the volumes at ready counter increased to 97.041 million shares as compared to 68.831 million shares traded on Monday. The market capitalisation increased by Rs 35 billion to Rs 3.270 trillion. Out of the total 370 active scrips, 190 closed in positive and 76 in negative while the value of 104 scrips remained unchanged.
Lotte Pakistan PTA was the volume leader with 13.117 million shares and gained Re 0.36 to close at Rs 16.29. Nishat Chunian Power lost Re 0.23 to close at Rs 15.88 with 6.720 million shares. Nishat (Chunian) increased by Re 0.67 to close at Rs 27.39 with 5.260 million shares. Shak (R.C.Pf 8.5 percent) lost Re 0.05 to close at Rs 3.75 with 5.147 million shares.
Jahangir Siddiqui Co inched up by Re 0.42 to close at Rs 10.97 with 4.534 million shares. PIAC (A) gained Re 0.19 to close at Rs 3.06 with 3.901 million shares. Fauji Fertiliser Bin Qasim increased by Re 0.24 to close at Rs 41.43 with 3.790 million shares.
Nishat Mills gained Re 0.33 to close at Rs 64.16 with 3.713 million shares. BoP lost Re 0.04 to close at Rs 7.98 with 3.319 million shares. Arif Habib Corp declined by Re 0.06 to close at Rs 24.12 with 3.036 million shares. Nestle Pakistan and Siemens Pak were the highest gainers increasing by Rs 51.51 and Rs 22.33 to close at Rs 3479.63 and Rs 1072.80 respectively while Rafhan Maize and Al-Ghazi Tractors were the worst losers declining by Rs 111.69 and Rs 7.61 to close at Rs 2727.95 and Rs 222.43 respectively.
Hasnain Asghar Ali at Aziz Fidahusein Co said that the speculative buying sparked an across the board short-covering certainly found support of fresh funds placement in high dividend yielding stocks, trading with the topping of recently announced payouts, allowed the local bourse to stage a pull-back, leading from the front were indeed the Fauji group stocks from fertiliser sector, various mid-tier stocks invited accumulation on charm of short term capital gains, while various main board stocks on back of short covering and speculative stocks followed the trend thus allowing the index to pour-in triple digit gains and sustain above 12000, while turnover was contributed by Lotte PTA.
He said that the news of MTS approval that was being attributed as main reason for the bull-run was probably a regulatory formality and the procedural matter, the approval of the product that was apposed by the previous chairman thus making it mandatory for the KSE board to give a formal approval to complete the procedural cycle, newly proposed product that is still with the law ministry can only be implemented after the product is received by SECP and then forwarded to the KSE board for implementation, and then only the regulations will be officially released for the market men to assess its productivity, thereby keeping the cautious stance alive.