The KSE-100 index on Friday gained 76.30 points and closed at 11,960.22 points level on the back of investors interest in some select stocks. The market opened on a positive note and the index hit 11,981.00 points intra-day high level. During the session, profit-taking was also seen in some stocks that forced the index into negative zone at 11,879.90 points intra-day low level.
Trading activities remained low, as the volumes at ready counter declined to 75.602 million shares, as compared to 95.533 million shares traded on Thursday. Total market capitalisation increased by Rs 18 billion to Rs 3.105 trillion. Of the total 305 active stocks, 121 closed in negative and 88 in positive while the value of 96 scrips remained unchanged.
Lotte Pakistan PTA was the volume leader with 12.780 million shares, however, lost Re 0.82 to close at Rs 8.80. Investors interest was seen in the fertiliser sector, Fauji Fertiliser Co, Fatima Fertiliser Co and Engro Corp surged by Rs 8.50, Re 0.46 and Rs 1.84 to close at Rs 186.17, Rs 21.81 and Rs 117.24 with 9.037 million shares, 4.312 million shares and 3.059 million shares, respectively while Fauji Fertiliser Bin Qasim declined by Re 0.56 to close at Rs 48.18 with 3.101 million shares.
In the cement sector, DG Khan Cement and Lucky Cement increased by Re 0.17 and Re 0.55 to close at Rs 23.26 and Rs 87.03 with 8.048 million shares and 1.834 million shares, respectively. Jahangir Siddiqui Co lost Re 0.22 to close at Rs 5.64 with 3.996 million shares. NBP declined by Re 0.52 to close at Rs 44.10 with 3.159 million shares.
Unilever Pak and Fauji Fertiliser Co were the highest gainers increasing by Rs 14.80 and Rs 8.50 to close at Rs 5400.00 and Rs 186.17, respectively while Nestle Pakistan and Indus Dyeing were the worst losers declining by Rs 29.64 and Rs 18.21 to close at Rs 3255.93 and Rs 354.32, respectively.
Ahsan Mehanti at Arif Habib Corp said that the stocks closed bullish in the earnings announcement session at KSE led by oversold oil and fertiliser scrips on strong valuations. He said that the stocks managed to close near its session high on investor speculation on strong corporate earnings outlook ahead of major earning announcements due next week. The rising global commodities and easing political outlook played a catalyst role in bullish sentiment at KSE, he added.