Late buying on Friday supported the KSE-100 index to register a gain of 65.34 points to close at 11,858.17 points on the back of revived interest of local investors. However, foreign investors opted for profit taking and remained net sellers of shares worth $0.08 million. The index remained oscillating between 11,876.77 points intra-day high and 11,767.97 points intra-day low levels.
Trading remained low and the volume at ready counter declined to 87.013 million shares as compared to 90.504 million shares traded on Thursday. Market capitalisation increased by Rs 19 billion to Rs 3.222 trillion. Of total 385 active scrips, 202 closed in positive and 164 in negative, while the value of 19 scrips remained unchanged.
Lotte Pakistan PTA was the volume leader with 14.276 million shares and gained Re 0.35 to close at Rs 13.50. Fatima Fertiliser Co increased by Re 0.59 to close at Rs 9.98 with 6.248 million shares. Azgard Nine inched up by Re 0.06 to close at Rs 10.15 with 5.724 million shares. Fauji Fertiliser Bin Qasim gained Rs 0.71 to close at Rs 36.45 with 5.415 million shares. Fauji Fertiliser Co surged by Rs 5.05 to close at Rs 121.39 with 3.570 million shares.
KESC inched up by Re 0.09 to close at Rs 2.71 with 3.349 million shares. JS Growth Fund gained Re 0.10 to close at Rs 5.21 with 2.542 million shares. Engro Corporation increased by Rs 1.54 to close at Rs 197.13 with 2.271 million shares.
POL surged by Rs 3.69 to close at Rs 291.23 with 1.963 million shares. NBP increased by Re 0.12 to close at Rs 72.05 with 1.913 million shares. Rafhan Maize and Unilever Foods were the highest gainers increasing by Rs 74.74 and Rs 46.79 to close at Rs 2189.99 and Rs 1118.04 respectively, while Unilever Pak and Wyeth Pak were the worst losers declining by Rs 90.98 and Rs 40.00 to close at Rs 4362.24 and Rs 1100.00 respectively.
Ahsan Mehanti at Arif Habib Investments said that the market turned bullish in late hours on the back of local investors'' support, who took fresh positions on hopes for early launch of leverage product after appointment of new SECP chairman. He said that record rise in global commodity prices was taken positive for fertiliser, oil and gas, textile and sugar sector scrips. The finance ministry assurance to release Rs 35 billion for PSO, oil prices over $91 and easing political situation played a catalyst role for positive activity at the local bourse, despite profit taking by foreign investors.