Karachi stock market on Friday closed in positive with support of high buying in fertiliser and oil sector. The KSE-100 index gained 119.51 points to close at 11,761.97 points from 11,642.46 points. The KSE-100 index hit intra-day high of 11,800.17 points and low of 11,642.46 points.
Trading improved and the volume at ready counter surged to 96.866 million shares compared with 80.556 million shares traded a day earlier. Of 355 active scrips, 186 closed in positive and 81 in negative, while the values of 88 scrips remained unchanged. Market capitalisation increased by Rs 32 billion to Rs 3.103 trillion from Rs 3.071 trillion.
PTCAL was volume leader with 13.86 million shares and gained Re 0.27 to close at Rs 11.62. Fatima Fertiliser increased by Re 0.47 to Rs 18.85 with 9.75 million shares. With 6.632 million shares trading, Fauji Fertiliser Bin Qasim was up by Re 1.17 to Rs 58.68. Arif Habib Corp gained Rs 1.20 to close at Rs 29.25 with 6.04 million shares.
Fauji Fertiliser surged by Rs 0.41 to Rs 161.90 on trading of 4.51 million shares. Engro Corp gained Rs 2.63 to Rs 143.39 with 3.9 million share trading. Dera Ghazi Khan Cement was up by Re 0.44 to close at Rs 20.57 with trading of 3.68 million shares. With trading volume of 3.616 million, Bank Al-Falah increased by Re 0.28 to close at Rs 11.28. Lucky Cement and National Bank of Pakistan gained Re 0.57 and Re 0.48 to close at Rs 75.52 and Rs 45.80 with trading volume of 2.8 million and 2.6 million respectively.
Nestle Pakistan and UniLever Pak were highest gainers, increasing by Rs 177.05 and Rs 124.08 to close at Rs 3,747.99 and Rs 5,581.02 respectively, while Unilever Pak Foods and Wyeth Pak were worst losers and declined by Rs 81.12 and Rs 18.22 to close at Rs 1,600.00 and Rs 860.80 respectively.
"The last working day of market was very encouraging and bullish activity was witnessed at KSE led by fertiliser and oil sector scrips", said Ahsan Mehanti, Director Arif Habib Investments. He aid that higher local fertiliser prices and easing circular debt concerns after Asian Development Bank conditional approval to eliminate debt in Pakistan energy sector played a catalyst role in bullish sentiment at KSE. Fall in National Savings Schemes yields, hopes for easing SBP key policy rate next week and united political stance on US allegations for Pak armed forces at all parties conference was taken positively by investors, he added.