Institutional support on the likely accord with the International Monetary Fund (IMF) this week after the seventh review under the Extended Facility Fund (EFF), a slump in the global crude oil prices and easing economic uncertainty played a catalyst role in the bullish close,” Ahsan Mehanti at Arif Habib Corp said.
The Pakistan Stock Exchange KSE-100 shares Index gained 0.88 per cent, or 382.41 points, to close at 43,933.56 points. The KSE-30 shares Index gained 0.82 per cent, or 136 points, to close at 16,793.48 points.
As many as 328 scrips were active of which 216 advanced, 87 declined and 25 remained unchanged.
“Index stayed in the red territory during the first trading hour due to the political unrest and rupee depreciation against the dollar. Cement sector remained in the limelight due to price increase by another Rs15/bag in the south except Karachi,” an analyst at Arif Habib Limited said.
On the flip side, the activity continued to remain side-ways as the market witnessed hefty volumes in the third tier stocks, he said, adding that in the last trading hour, value buying was witnessed which led the Index to close in the green zone.
The ready market volumes stood at 132.63 million shares, compared with the turnover of 161.93 million shares in the last trading session.
The companies which reflected the highest gains included Rafhan Maize up Rs357 to close at Rs11,990/share, and Premium Tex up Rs46.43 to close at Rs666/share.
The companies that reflected the most losses included Sapphire Tex down Rs77.68 to close at Rs961.27/share, and Colgate Palm down Rs70 to close at Rs2,220/share.
The highest volumes were witnessed in Telecard Limited with a turnover of 13.11 million shares. The scrip gained 72 paisas to close at Rs11.17/share, followed by WorldCall Telecom with a turnover of 6.66 million shares. It gained 1 paisas to close at Rs1.57/share. K-Electric Ltd remained the third with a turnover of 6.60 million shares. It gained 11 paisas to finish at Rs3.02/share.
