Daily trading volumes however decreased by 13 percent to 346.705 million shares as compared to 397.509 million shares traded Thursday. The market capitalization increased by Rs 43 billion to Rs 10.179 trillion. Out of total 389 active scrips, 197 closed in positive, 169 in negative while the value of 23 stocks remained unchanged. Summit Bank was the volume leader with 34.501 million shares. It gained Rs 0.78 to close at Rs 7.08 followed by K-Electric that inched up by Rs 0.26 to close at Rs 8.05 with 22.251 million shares. Byco Petroleum declined by Rs 1.15 to close at Rs 22.02 with 19.363 million shares.
Unilever Foods and Sapphire Fiber were the top gainers with Rs 200.00 and Rs 66.50, respectively to close at Rs 6,400.00 and Rs 1,396.50. Hinopak Motor and Sanofi-Aventis were the top losers with Rs 83.75 and Rs 50.01, respectively to close at Rs 1,591.25 and Rs 2,100.00.
Arhum Ghous at JS Global Capital said that the local bourse remained largely in the 'green zone' during the last trading day of the week as KSE-100 index gained to make an intraday high of 367 points, closing up 325 points at 51,751 levels. Major index movers were ENGRO (up 1.80 percent), MCB (up 1.97 percent), OGDC (up 1.42 percent), PSO (up 2.46 percent) and HUBC (up 1.33 percent) as they cumulatively contributed 128 points to the index. OGDC and PPL (up 1.06 percent), in the E&P sector, extended their previous day gains as crude oil prices surged to trade around $47.73/bbl level closing in the green trajectory. Investor interest was seen in the Steel Sector as it close (up 2.0 percent) higher, where INIL (up 4.79 percent) gained to close on its respective upper circuit. Optimism in INIL was mainly due to material information released that a contract has been awarded by SNGP for supply of API line pipes valued at approximately Rs 2,670 million. CSAP (up 5.0 percent) also closed on its upper circuit due to material information released that a contract has been awarded by SNGP for supply of 36 inch bare pipes valued at approximately Rs 4,172mn.
Copyright Business Recorder, 2017