"On Thursday market closed at highest level amid higher trades as investors were interested in leading sectors on hopes for rate cut in upcoming SBP policy announcement," said Ahsan Mehanti an analyst. He said higher global commodities, higher cement sales data, rising fertiliser off-take and improved textile sector valuations on EU export relaxations played a catalytic role in bullish sentiments despite concerns for falling rupee dollar parity, which is directly affecting foreign inflow.
Followed by aggressive trading activity, volumes at ready counter increased to 257.727 million shares from 234.131 million shares traded a day earlier. With an increase of Rs 31.55 billion, the total market capitalisation rose to Rs 4.204 trillion, previously stood at Rs 4.172 trillion. Trading took place in 386 stocks, out of which 256 closed in positive and 115 in negative, while the share price of 15 stocks remained unchanged.
Among top 10 leading scrips, with turnover of 24 million shares, Byco Petroleum was the volume leader whose share price up by Re 0.99 to close at Rs 11.66. Fauji Cement lost Re 0.02 to close at Rs 6.8 with 16.2 million shares trading. Share price of PIAC (A) increased by Re 1 to Rs 3.58 with 14.4 million share trading.
Share price of PTCL increased by Re 0.29 to Rs 17.3 with eight million shares. Lotee Pak PTA gained Re 0.1 to close at Rs 7.33 with 7.7 million share trading. Some seven million shares of Nishat Mills Ltd were traded and its share price closed at Rs 65.1, increased by Re 0.88.
In addition, JS Bank Ltd and Fuaji Fertiliser Bin gained Rs 0.03 and Rs 1.5 to close at Rs 6.36 and Rs 38 with 6.9 million and 6.7 million shares respectively. With 6.5 million turnover, share price of Jah Sidd Co closed at Rs 18.55, inched up by Re 0.22. Nimir Ind Chemical gained Re 0.59 to Rs 4.27, with share trading of 6.4 million shares.
Unilever Pak and Unilever Food were the top gainers and their share prices increased by Rs 149.89 and Rs 100.00 to close at Rs 9,953.45 and Rs 4,290.00 respectively. While, Bata Pakistan and Indus Dying were the top losers and declined by Rs 50.67 and Rs 22.87 to close at Rs 1,599.00 and Rs 567.13 respectively.
Samar Iqbal, an equity dealer said that another record was made as equity prices rose further with rising volumes. After many months MCB Bank with a gain of five percent, helped index to see new high of 16,825, she added. "PIA also saw increased activity as investors' expectation Government to pump in more money in the loss making company. Lucky and DG Cement also witnessed fresh buying after remaining dull for last few sessions," she mentioned.