KARACHI - Bullish trend continued in the earnings announcement session at the KSE on Tuesday, led by oil, banking and fertilizer scrips with higher trades on investor speculations for strong earning announcements.

The benchmark KSE 100-share index added 147.70 points or 1.22 percent to finish the day at 12,284.62 points as compared to the 12136.92 points of the previous sessions. KSE Allshare-index gained 101.58 points or 1.21 percent to stop the day at 8,527.93, KSE 30-index increased by 87.57 points or 0.77 percent to close the day at 11,468.90 points while KMI 30-index jumped 159.34 points or 0.73 percent to end the day at 22,017.47.

“Renewed foreign investment, improved Pak-US relations and expectations for early resolution of circular debt issue in the country played catalyst role in bullish sentiments despite concerns over uncertain political outlook after suspension of state ministers and IMF warnings on Pakistan economic challenges,” said Ahsan Mehanti analyst at Arif Habib Corporation in his analysis.

Market traded 162.115 million shares after opening at 196.299 million shares. Trading took place in 339 stocks where gainers continued the lead over the loosers by 162 to 92 while the values of 85 stocks remained intact.

Jahangir Siddiqi Company was the top traded company of the day with 30.349 million shares, followed by Bank Al-Falah, National Bank, D.G.K Cement and P.T.C.L.A with turnover of 12.707 million, 9.619 million, 7.512 million and 6.887 million shares respectively.  

Unilever Pak Foods and Nestle PakistanXD were the highest price gainers of the day, up by Rs 70.75 and Rs 12.05, and the top losers were led by the Indus Dyeing and Ferozsons (Lab) Limited, down by Rs 20.35 and Rs 3.20 respectively.

APP adds from Lahore: Bullish trend prevailed in Lahore Stock Exchange on Tuesday, as it gained 25.39 points and closed at 3211.13 points.

The market’s overall situation, however, did not correspond to an upward trend as it remained at 3.534 million shares to close against the previous turnover of 5.317 million shares, showing a downward slide of 1.783 million shares. While out of the total 102 active scrips, 29 moved up, 60 remained equal and only 13 shed values.

Oil and Gas Development Company Limited, Engro Corporation Limited and National Bank of Pakistan were major gainers of the day by recording increase in their per share value by Rs 4.01, Rs 3.25 and Rs 1.39 respectively.

Fauji Fertilizer Company, Pakistan Petroleum Limited and Arif Habib Corporation lost their per share value by Rs 2.46, Rs 1.50 and Re 0.22 respectively.

The volume leader of the day included The Bank of Punjab Limited with 1.203 million shares, Lafarge Pakistan Cement with 346,550 shares and Silk Bank Limited with 308,894 shares.