KARACHI: The Pakistan Stock Exchange Friday continued its record-breaking upward rally as the benchmark 100-share index gained 59.84 points (0.15 per cent) to close at a new high of 39528.82 points.
Negativity prevailed during the most part of the trading session as the index lost value to hit an intra-day low of 190 points, as it was the last trading session for investors to roll over their July future positions.
The stocks recorded the highest trading level of 39562.18 points and lowest level of 39278.68 points as volumes decreased by 20 per cent to 145m shares and value decreased by 30 per cent to Rs 7.3 billion. As many as 306 companies were active; of which 148 advanced, 139 declined and 19 remained unchanged.
Investors came in to buy during the latter hours of the trade as the index recovered to close on a flat note (up 0.2 per cent). Fertilizer sector gained to close in the green zone as fertilizer dispatch number released by NFDC showed 41 per cent MoM growth.
Major gainers of the aforementioned sector were FATIMA (up 1.54 per cent) and EFERT (0.53 per cent). LUCK (up 1.57 per cent) in the cement sector gained on the back of material information disseminated in the market in which company announced its expansion for its Karachi plant by 1.25 million tons per annum with the investment of around $30 million. Investor interest was seen in both the gas utilities, as SNGPL (up 5 per cent) and SSGC (3.41 per cent) gained to close in the green zone.
SNGPL and KEL led the volumes with 42m shares traded combined. SNGPL closed at its upper limit while KEL gained 1.1 per cent. LUCK announced to expend its plant capacity by 1.25m tons per annum, which led interest as the stock gained by 1.5 per cent. Oil stocks declined as international oil prices continued to fall. POL, PPL and OGDC declined by 2.4 per cent, 0.5 per cent and 1 per cent respectively.
