Index gains 97.64 points

KARACHI (October 14 2010): The Karachi share market on Wednesday witnessed positive trend and KSE-100 index gained 97.64 points, rising from 10,292.33 points to 10,389.97 points. The index touched 10,403.31 points intra-day high and 10,283.13 points low level. Trading activity improved, and the volume at ready counter surged to 81.345 million shares as compared to 51.891 million shares traded on Tuesday.The futures turnover also presented some improvement and overall some 2.7 million shares were traded in the futures market, against 1.55 million shares previously. Market capitalisation surge by Rs 25.361 billion to Rs 2.864 trillion from Rs 2.838 trillion.Trading took place in 405 scrips, out of which 144 scrips closed in the negative and 236 in the positive, while the value of 25 shares remained unchanged. Jah Sidd Co was the volume leader with 6.69 million shares and gained Re 0.47 to close at Rs 9.57. Lafarge Pakistan increased by Re 0.21 to close at Rs 3.02 with trading of 6.4 million shares.Fauji Fertiliser Bin Qasim gained Re 0.50 to closed at Rs 29.70 with 4.82 million shares. DG Khan Cement increase by Re 0.41 to close at Rs 25.72 with 4.68 million shares. With 3.78 million, shares price of World Call Telecom gained Re 0.15 to close at Rs 2.83.

PTCLA also surge by Re. 0.23 to close at Rs 19.53. Bank Al-Falah closed at Rs 9.18, down by Re 0.06 with 3.18 million shares. Engro Corporation gained Rs 4.76 to close at Rs 179.94 with 3.079 million shares. Nishat Mills increase by Re 0.39 to close at Rs 49.58 with 2.29 million shares, and with trading of 2.17 million share the price of Lotte Pakistan PTA closed at Rs 8.88, with decrease of Re 0.0.2.Millat Tractor and Colgate Palmolive were the highest gainers and gained Rs 20.88 and Rs 17 to close at Rs 469.95 and Rs 748.01 respectively, while Lakson Tobaco and Unilever Pak were the worst losers and lost Rs 19.38 and Rs 16 to close at Rs 368.34 and Rs 4,003.50 respectively.

Ahsan Mehanti Director Arif Habib Investments said that bullish activity was witnessed in the earnings announcement session on strong institutional interest in Pakistan oil and gas, banking and fertiliser scrips. Rise in international oil prices near to $83, postponement in NRO case hearing by Supreme Court and renewed foreign interest played a catalyst role in positive activity at KSE despite concerns for political & economic uncertainty, he added – Brecoder