Index gains 14.84 points

Despite foreign selling, the KSE-100 index on Friday gained 14.84 points to close at 11,853.84 points on the back of local investors and institutions' interest in some select stocks. Foreign investors remained on the selling side and withdrew $2.5 million from the local equity market. The market opened on a positive note and the index hit 11,928.73 points intra-day high level.
The index remained in positive throughout the session. Trading improved and the volume at ready counter increased to 70.482 million shares as compared to 62.750 million shares traded on Thursday. Market capitalisation increased by Rs 2 billion to Rs 3.126 trillion.
Of 367 active scrips, 140 closed in positive and 118 in negative, while the values of 109 stocks remained unchanged. PTCL was the volume leader with 18.226 million shares and gained Re 0.38 to close at Rs 11.70. DG Khan Cement increased by Rs 1.05 to close at Rs 22.58 with 6.053 million shares while Fauji Cement lost Re 0.15 to close at Rs 4.10 with 1.831 million shares.
Bank Al Falah inched up by Re 0.21 to close at Rs 11.51 with 4.778 million shares while NBP lost Re 0.46 to close at Rs 48.45 with 3.505 million shares. Arif Habib Corp gained Re 0.67 to close at Rs 30.69 with 3.127 million shares. Jahangir Siddiqui Co inched up by Re 0.10 to close at Rs 5.68 with 2.843 million shares.
Fatima Fertiliser, Engro Corp and Fauji Fertilizer Bin Qasim increased by Re 0.12, Rs 1.74 and Re 0.04 to close at Rs 19.63, Rs 140.65 and Rs 60.36 with 2.451 million shares, 2.390 million shares and 1.790 million shares respectively. Attock Petroleum and Clariant Pakistan were highest gainers, increasing by Rs 6.50 and Rs 4.63 to close at Rs 377.87 and Rs 142.16 respectively, while Unilever Pak and Nestle Pakistan were worst losers, declining by Rs 97.57 and Rs 46.98 to close at Rs 5601.76 and Rs 3500.00 respectively.
Ahsan Mehanti at Arif Habib Investments said that positive close was witnessed in the earnings announcement session at KSE on investors' hopes for likely cut in key policy rate announcement on October 8. He said that easing political uncertainty, recovery in global stocks and commodities on easing Europe debt crisis and improved US jobless data, easing power crises in the country and rising local fertilisers and cement prices played a catalyst role in bullish sentiment at KSE.