Expectations over early launch of a leverage product invited fresh buying on Tuesday and the KSE-100 index increased by 85.16 points to close at the level of 12,455.75 points. Trading activities also improved, as the volumes at ready counter increased to 137.378 million shares, as compared to 109.265 million shares traded on Monday.
The overall market capitalisation increased by Rs 22 billion to Rs 3.369 trillion. Out of the total 388 active scrips, 192 closed in positive and 177 in negative, while the value of 19 scrips remained unchanged. Lotte Pakistan PTA was the volume leader with 43.583 million shares and gained Re 0.83 to close at Rs 15.88.
Fauji Fertiliser Bin Qasim lost Re 0.04 to close at Rs 41.82 with 24.322 million shares, while Engro Corporation surged by Rs 5.06 to close at Rs 214.88 with 4.258 million shares. Fauji Fertiliser Co increased by Re 0.59 to close at Rs 153.66 with 2.504 million shares. Azgard Nine lost Re 0.05 to close at Rs 11.94 with 10.850 million shares.
Nishat Power declined by Re 0.08 to close at Rs 17.61 with 3.927 million shares. Jahangir Siddiqui Co decreased by Re 0.07 to close at Rs 12.00 with 3.177 million shares. KASB Bank closed at Rs 1.77, down Re 0.18 with 2.595 million shares. Nishat Chunian Power lost Re 0.21 to close at Rs 16.65 with 2.522 million shares. BoP decreased by Re 0.16 to close at Rs 9.15 with 2.447 million shares. Rafhan Maize and Unilever Pak were the highest gainers increasing by Rs 44.12 and Rs 31.25 to close at Rs 2305.00 and Rs 4640.42, respectively, while Fazal Textile and Siemens Pak were the worst losers declining by Rs 20.18 and Rs 9.80 to close at Rs 384.82 and Rs 1191.00, respectively.
Ahsan Mehanti at Arif Habib Investments said that the bullish activity was witnessed in the earnings announcement session led by oil, fertiliser and banking sector scrips on strong valuations. He said that the record earnings announcements in fertiliser and oil sector scrips, expectation of early approval of leverage products affected the market sentiment positively despite concerns for falling international oil prices near to $87 and rising economic uncertainty in the country.