KARACHI - The stock market staged strong rebound on Tuesday despite profit-taking ahead of upcoming Eid-ul-Azha. Positive sentiment supported the index while buying in UBL and NBP also supported share prices of banking sector.

Nadeem Moulvi, Director MM Securities, said higher inflow of remittances, OGDC IPO’s announcement brought positive impact to the market. At KSE, benchmark 100-share index posted a fresh gain of 343.26 points or 1.17 per cent to end the day at 29726.39 points compared to 29383.13 points of the previous day.

Samar Iqbal, AVP at Topoline, said overwhelming response to Saif Power positively affected overall market sentiments. Renewed buying in UBL and NBP also supported share prices of banking sector. Surprise bonus payout of 20% by Mari resulted in recovery in Mari prices.  KSE-allsahre went up by 226.89 points or 1.05 per cent to close the day at 21778.18 points, KSE-30 grew by 255.20 points or 1.28 per cent to conclude the trading at 20214.56 points while KMI-30 increased by 544.04 points or 1.14 per cent to stop the trading at 48379.38 points.  The day turnover of market was 100.374 million shares as compared to 90.886 million shares of the previous day and the value of traded shares climbed to Rs 6.255 billion from Rs 5.088 billion while the capitalization f the market maintained at Rs 6.914 trillion after opening at Rs 6.842 trillion. 

Trading took place in 375 companies where 215 closed in positive and 133 in negative while the values of 27 stocks remained intact. Rafhan Maize was the biggest price gainer of the day, up by Rs 245.45 to Rs 11145.45, followed by Wyeth Pak Ltd, higher by Rs 103.33 to Rs 4430. Nestle Pak.XD and Siemens Pakistan were the top price losers of the day, decreased by Rs 138 to Rs 7400 and Rs 55 to Rs 1064.

Active list was topped by Pak Elektron Ltd with 8.086 million shares as it closed at Rs 27.19 after opening at Rs 26.55. United BankXD was the second highest on volume chart with 4.877 million shares, up by Re 3.84 to Rs 188.34. It was followed by Nishat (Chunian) with 4.501 million shares, up by Rs 1.92 to Rs 40.68, Lafarge Pak with 3.859 million shares, shed Re 0.04 to Rs 16.51 and National Bank with 3.367 million shares, extended by Rs 2.60 to Rs 60.50.