KARACHI

Led by oil stocks market closed at yet another high on Tuesday, catapulted the KSE-100 Index to 34826.51 points, with a gains of 150 points.

Market opened on a positive note and later juggled between the red and green zone.  Oil & Gas sector witnessed bullish move due to the recovery in global oil prices as PSO, POL and PPL spiked up by 2.9pc, 4.7pc and 2.8pc respectively.  Profit taking was witnessed in the cement sector as MLCF, PIOC and FCCL closed down by 1.7pc, 2.4pc and 2.6pc respectively. Pharma sector witnessed mixed sentiment as the bureau asked government to review drug pricing policy, stated analyst at JS Global Security. Analyst Ahsan Mehanti said stocks closed on a new all time high led by blue chip oil stocks amid sharp recovery in WTI Crude Oil crossing $51/barrel. Favourable CPI Inflation data for Jan’15 at 3.88pc YoY, renewed hopes for disbursement of $550m tranche following IMF Review and expectations for key announcements on privatisation of SOEs played a catalyst role in bullish activity at KSE despite massive intra day consolidation in second and third tier stocks, he added. Rise in international oil prices kept investors’ interest alive in POL appreciate 5pc, OGDC gains 2pc, and PPL up by 3pc. Cement stocks saw some profit taking after rallying in last few sessions, said analyst at Topline Brokerage. Volumes increased by 5pc to 344m shares, while value declined by 6pc to $200m (value Rs20b). Of total 384 active companies in the market, 148 finished in advance, 216 in decline and 20 went unchanged.

Pak Int. Bulk was the volume leader with 34.73m shares and price per share Rs40.14, followed by K-Electric with 30.07m shares and price per share Rs8.53 and Power Cement with 29.47m shares and price per share Rs8.15 were in spotlight in market. Shezan Inter. XDXB with per share price Rs1339.00 (39.00) and Pak Tobacco with per share price Rs1056.71 (35.28) were among top gainers in market. While Bata Pak with per share price Rs3671.71 (-178.29) and Exide Pak with per share price Rs1729.00 (-91.00) were among top losers in market.