"News flow regarding the release of 680 million dollars Coalition Support Fund (CSF) pulled the sinking index values to capture and maintain level at 16,900. However despite hefty volumetric contribution by low priced stocks, various mid-tier stocks from gas distribution and banking stocks hit the upper locks, local equities remained fail to attract wider interest," said Hasnain Asghar Ali, COO Escorts Capital.
He said that targeted activity in frontline stocks mainly in E&P, Cement stocks and stock swapping in fertiliser stocks that were duly followed by short covering allowed the benchmark to stage yet another historic closing, besides creating some activity towards the closing bell, he added. On Friday, Karachi share market opened in green zone and after various fluctuations maintained positive trend till the end. The KSE-100 index hit intraday high level of 16,953.5 points and low level of 16,873.44 points.
Trading activity also improved and overall 154.458 million shares were traded at ready counter compared to 151.903 million shares traded on Thursday. Out of 338 active scrips, 166 closed in positive and 143 in negative, while the share price of 29 stocks remained unchanged.
The market capitalisation increased by Rs 15.5 billion to Rs 4.256 trillion from Rs 4.241 trillion on last trading day. Among top 10 leading stocks, PIAC (A) remained volume leader and its share price increased by Rs 0.63 to close at Rs 4.43 with 20.26 million shares trading.
Byco Petroleum gained Re 0.70 to close at Rs 13.92 and its some 18.63 million shares were traded. The share price of KESC up by Re 0.27 to close at Rs 5.94 on 11.38 million turnover. With trading of 9.9 million, Jah Sidd Co gained Re 0.48 to close at Rs 16.52. Share price of Askari Bank was increased by Re 0.66 to close at 17.41 with some 9.2 million share trading. Bank of Punjab''s share was closed at Rs 9.7, up by Re 0.42 and its some 6.9 million shares were traded.
Azgard Nine gained Re 0.57 to close at Rs 8.22 on 5.5 million turnover. The share price of Fauji Cement was increased by Re 0.09 closed at Rs 6.59 with some 3.6 million turnover. With some 3.5 million shares trading, Engro Foods Ltd gained Rs 2.09 to close at Rs 98.9 and NIB Bank Limited gained Re 0.1 to close at Rs 2.52 and its some 3.1 million shares were traded.
Besides, Unilever Pak and Bata (Pak) remained highest gainers and their share prices increased by Rs 499.99 and Rs 29.5 to close at Rs 10,500 and Rs 1,349.5 respectively. While, Indus Dyeing and Island Textile remained losers with decline in their share prices by Rs 31.45 and Rs 24.71 to close at Rs 597.55 and Rs 1,000 respectively.