After witnessing a mixed trend on Friday, the KSE-100 index finally managed to close in positive at 11,988.09 points, up 21.80 points on the back of late buying in some selective stocks. The index remained oscillating between 12,023.01 points intra-day high and 11,913.33 points intra-day low throughout the session.
Trading volumes at ready counter slightly increased to 92.163 million shares, as compared to 91.682 million shares traded on Thursday. Total market capitalisation increased by Rs 2 billion to Rs 3.146 trillion. Out of the total 354 active scrips, 133 closed in negative and 119 in positive, while the value of 102 stocks remained unchanged.
Fauji Fertiliser Bin Qasim was the volume leader with 14.317 million shares and increased by Rs 1.38 to close at Rs 63.60. In the other fertiliser sector stocks, Fatima Fertiliser Co gained Re 0.77 to close at Rs 22.76 with 11.804 million shares. Hub Power Co declined by Rs 1.43 to close at Rs 40.20 with 7.699 million shares. NBP lost Rs 1.44 to close at Rs 44.99 with 5.826 million shares.
Nishat Mills surged by Rs 2.24 to close at Rs 53.28 with 4.903 million shares. Lotte Pakistan PTA lost Re 0.16 to close at Rs 12.38 with 4.690 million shares. PTCL decreased by Re 0.10 to close at Rs 12.24 with 4.571 million shares. Investors'' interest was seen in the cement sector, as DG Khan Cement and Lucky Cement increased by Re 0.47 and Rs 2.37 to close at Rs 22.50 and Rs 82.31 with 3.651 million shares and 2.569 million shares, respectively.
Nestle Pakistan and Bata (Pak) were the highest gainers increasing by Rs 45.99 and Rs 36.32 to close at Rs 3363.12 and Rs 762.74, respectively while Rafhan Maize Unilever Pak were the worst losers declining by Rs 123.45 and Rs 88.30 to close at Rs 2606.55 and Rs 5559.83, respectively.
Ahsan Mehanti at Arif Habib Investments said that the late buying in the some selective stocks in fertiliser, cement and refineries support the index to close in positive, as the rising local fertiliser and cement prices and higher oil refinery margins led the rally in commodity stocks. He said recovery in global stocks, rupee stability and falling government bond yields played a catalyst role in positive sentiment in the earnings announcement session at KSE despite concerns for gas shortfall for industrial sector, rising circular debt in energy sector and soaring trade deficit.