Index gains 12.8 points

Late buying in some select stocks, mainly by locals on Tuesday supported the KSE-100 index to close in positive at 11,506.95 level, up 12.80 points. The market witnessed mixed trend with the index oscillating between 11,617.40 points intra-day high and 11,426.50 points intra-day low level.
Trading remained very low and the volume at ready counter declined to 37.386 million shares as compared to 46.243 million shares traded on Monday. Market capitalisation increased by Rs 3 billion to Rs 2.996 trillion. Of the 293 active scrips, 109 closed in positive and 105 in negative, while the values of 79 scrips remained unchanged.
Fatima Fertiliser Co was the volume leader with 5.459 million shares and gained Re 0.76 to close at Rs 22.95. In the other fertiliser sector stocks, Fauji Fertiliser Bin Qasim and Fauji Fertiliser Co declined by Re 0.64 and Rs 2.21 to close at Rs 54.43 and Rs 165.47 with 4.365 million shares and 2.193 million shares respectively while Engro Corp increased by Rs 4.15 to close at Rs 127.24 with 1.434 million shares.
Attock Refinery surged by Rs 3.19 to close at Rs 119.18 with 1.798 million shares. Arif Habib Corp gained Re 0.82 to close at Rs 28.87 with 1.689 million shares. Azgard Nine inched up by Re 0.13 to close at Rs 3.50 with 1.650 million shares. DG Khan Cement closed at Rs 20.44, up Re 0.50 with 1.419 million shares.
NBP gained Re 0.15 to close at Rs 41.19 with 1.252 million shares. Lotte Pakistan PTA lost Re 0.02 to close at Rs 9.79 with 1.094 million shares. Unilever Pak and Indus Dyeing were highest gainers by Rs 25.38 and Rs 9.49 to close at Rs 5518.60 and Rs 374.62 respectively, while Nestle Pakistan and Siemens Pak were worst losers by Rs 105.43 and Rs 39.50 to close at Rs 2751.90 and Rs 750.60 respectively.
Ahsan Mehanti at Arif Habib Investment said that late buying in some select stocks supported the index to close in positive on the back of investors'' interest on dips. The stocks closed higher at KSE after Whitehorse statement to carry forward Pak-US relationship with separate investigation of attacks on Pakistan border positions, he added.
He said that the global markets recovery and hopes on favourable SBP policy announcements on November 30 played a catalyst role in recovery of oversold market despite concerns for falling rupees/dollar parity and uncertainty over Pak-US relations. He said that resumption of gas supplies to fertiliser plants, expectations for rise in local POL prices this week and higher banking sector spreads of 7.67 percent for October 2011 led to a positive close at KSE.