Renewed buying interest was seen in fertiliser sector amid increase in urea off-take for the month, while interest was also seen in POL and OGDC, she added. On Wednesday, Karachi share market opened in green zone and also closed on positive note. The KSE-100 index hit intraday high level of 16,962.33 points and low level of 16,888.46 points. Trading activity remained dull and overall 113.199 million shares were traded at ready counter compared to 131.993 million shares traded on Monday.
Out of 348 active scrips, 128 closed in positive and 193 in negative while the share price of 27 stocks remained unchanged. The market capitalisation increased by Rs 8.9 billion to Rs 4.246 trillion from Rs 4.237 trillion on last trading day. Among top 10 leading scrips, PIAC (A) remained volume leader and its share price increased by Re 1 to close at Rs 3.99 with 14.9 million shares trading. TRG Pakistan Ltd lost Re 0.03 to close at Rs 6.15 and its some 9.9 million shares were traded.
Share price of Maple Leaf Cement decreased by Re 0.17 to Rs 14.62 on 4.2 million turnover. With share trading of 4.1 million, Fauji Fert Bin gained Re 0.19 to close at Rs 38.69. Share price of Fauji Cement decreased by Re 0.03 to close at Rs 6.37 with some 3.6 million share trading. Engro Corporation closed at Rs 92.39, up by Re 0.82 and its some 3.5 million shares were traded.
Engro Foods Ltd gained Rs 1.23 to close at Rs 97.44 on 3.5 million turnover, while Pak Elektron Ltd's share price increased by Re 0.43 closed at Rs 10.6 with some 3.4 million turnover. With some three million shares trading, Byco Petroleum lost Re 0.09 to close at Rs 12.26 and Fauji Fertili XD gained Rs 1.96 to close at Rs 117.04 and its some 2.8 million shares were traded. Wyeth Pak Limited and Siemens Pakistan were the highest gainers and their share prices increased by Rs 10.24 and Rs 8 to close at Rs 955 and Rs 770 respectively.
While, Unilever Pak and Mithchells Fruit were the worst looser and declined by Rs 142.50 and Rs 18.00 to close at Rs 10,007.50 and Rs 366.00 respectively. "Pakistan stocks closed higher led by second and third tier stocks amid thin trade," said Ahsan Mehanti, an analyst at Arif Habib.
He said that investors remained cautious as foreign interest remained low on Christmas holiday. "Higher global commodities, rising textile exports and ECC approvals on allocation of gas to fertiliser sector affected the sentiments amid hopes for further cut in SBP policy rate after Dec'12 CPI Inflation target stood below 7.5 percent," he added. Strike call and security concerns in the city affected the trading activity at KSE and overall activity was very thin on Wednesday, he added.