KSE closes at all-time high on 3G licence auctions hope


Stocks closed yet again at all-time high amid higher trades on economic optimism after FM hints rupee appreciation. The week started on a positive note with index gaining 41.62 points to close on yet another high of 25298.32 level compared to 25256.70 points of the last working day on Friday. Dealers said participation remained on the lower side as total volumes declined by 17pc to Rs10.1b. Some profit-taking was seen in NCL and NML as they declined by 3 and 2pc, respectively. Conversely, investors’ interest was seen in fertilizer scrips, especially in FFBL on the back of potentially impressive final dividend.
Moreover, with discussion on OMC margins in ECC is expected to take place this week, investors also keenly followed PSO which gained 2pc. FCCL remained the volume leader with 17.7m shares exchanging hands closely followed by ANL with trade of 16.8m shares while JSBL generated volume of 14.1m shares, he added.
KSE-Allshare index up by 6.76 points or 0.04 percent to end the day at 18693.98 points, KSE-30 share index grew by 36.19 points or 0.19 percent to close the day at 18901.87 points while KMI-30 share index extended by 202.57 points or 0.48 percent to conclude the session at 42505.60 points.
Stock traded 278.110 million shares after opening at 339.284 million shares and the value of traded shares was minimised to Rs 10.101 billion from Rs 12.119 billion. Capitalisation of the market maintained at Rs 6.080 trillion compared to Rs 6.078 trillion of a day earlier.
Equity analyst Ahsan Mehanti said expectation for key announcements on privatisation and 3G licence auctions kept sentiments positive in selected stocks across the board.
Trade was led by oversold second and third tier stocks after positive trade deficit data and hopes for gas tariff revision next month which is set to reduce rising circular debt in ailing energy sector.
Trading took place in 381 companies where gainers beat the losers 202 to 156 while the value of 23 stocks remained intact. Unilever Foods and Rafhan Maize were the top losers of the day decreased by Rs 508 to Rs 10100 and Rs 410 .44 to Rs 7798.46. Isalad Textile led the uphill increased by Rs 49.75 to Rs 1044.75 followed by Sanofi-Aventis up by Rs 24.69 to Rs 518.58.
Fauji Cement was the top traded company of the day with 17.717 million shares as it closed at Rs 14.30 after opening at Rs 13.90. Azgard Nine was on the second position with 16.841 million shares off by Re 0.38 to Rs 7.62. It was followed by JS Bank Ltd with 14.143 million shares higher by Re 0.28 to Rs 4.56, Lotte Chemical with 12.731 million shares shed by Re 0.21 to Rs 7.53 and Bank of Punjab with 12.019 million shares up by Re 0.25 to Rs 11.05.