However, slow activity was witnessed at ready counter and overall 193.049 million shares were traded compared to 195.592 million a day earlier. Market capitalisation was increase by Rs 36 billion to Rs 4.171 trillion from Rs 4.135 trillion. Analysts said that low inflation reports have forced investors to take new positions as they aggressively traded in cement, oil and banking stocks. "CPI inflation for November has recorded at 6.93 percent," they added.
Among top-10 leading scrips, Jah Sidd Co Company was the volume leader with 23.31 million shares turnover and its share price increased by Re 0.91 to close at Rs 18.47. Share price of Maple Leaf Cement also gained by Re 0.08 to close at Rs 14.52 with 16.67 million shares. With share trading of 13.99 million, the share price of KESC was down by Re 0.24 to Rs 6.66 per share. Some 9.35 million shares of Fauji Cement were traded and its price was remained stable at Rs 6.91.
With turnover of some eight million, share price of Pak Elektorn Ltd surged by Re 0.98, to Rs 9.07. Share price of Sui North Gas gained Re 0.81 to close at Rs 24.94 with 5.6 million share trading. Share price of D G Khan Cement closed at Rs 54.1, up by Re 0.33 with 5.5 million shares trading. Share price of Engro Corporation was increased by Re 0.9 to close at Rs 98.23 and its some 5.2 million shares were traded. In addition, with turnover of 4.1 million, share price of Azgard Nine closed at Rs 8.61, up by Re 0.13. Share price of Pervez Ahmed increased by Re 0.28 to Rs 3.44, with trading volume of 3.6 million shares.
Nestle Pakistan and Island Textile were the highest gainers and increased by Rs 221.15 and Rs 41.27 to Rs 4,644.15 and Rs 1,040.00 respectively. While, Unilever Pakistan and Bata (Pak) were the worst losers and declined by Rs 190.96 and Rs 10.33 to close at Rs 9,805.00 and Rs 1,649.67 respectively. Ahsan Mehanti, an analyst at Arif Habib Securities, said KSE-100 index closed at highest level led by cement, oil and banking stocks amid speculations for rate cut ahead of SBP Monetary Policy announcement due this month.
"Expectations for release of $400m US Coalition Support Funds after improvement in Pak-US ties, higher local cement prices, and ECC suggestions for reduction of Sales Tax, GDS for fertiliser sector and renewed foreign interest in blue-chip stocks in oil sector played a catalyst role in bullish sentiments at KSE," he added.
Samar Iqbal, an equity dealer at Topline Securities, said that big market cap stocks like OGDC, PPL and MCB gained due to active institutions support, while retail investors were seen active in JSCL, MLCF and KESC. She said that low inflation for the month of November had increased expectation of other policy rate cut to force investors to take new positions.