KARACHI - Benchmark index gained 1.2pc on week-on-week basis to close at historic high of 25,579 with 16pc improved average volumes at Rs10.2b as against Rs8.8b in the previous week.

On the last day of trading week benchmark posted fresh gain of 106.68 points or 0.42 percent to end the day at 25579.33 points compared to 25472.65 points of the previous day.

The key highlights remained successful approval of second tranche of IMP loan worth $550m, while 10 PIB yields in secondary market came down to 12.75pc from 13pc, signifying that interest rate is expected to remain stable at present rate, Equity dealer at Topline Asad Siddiqui observed here.

On the other hand, Etisalat’s team visited Pakistan on Wednesday with no concrete outcome on the persisting problem of properties. Investors’ interest was mainly seen in Engro Corp, FCCL, PTC, PSO, and small cap cement stocks. Going forward, investors should remain watchful about the upcoming IMF payments (December end and in start of January), position of the Forex reserves and movement of PKR with respect to US$. We believe sentiments will mainly be led by foreign flows and smooth future position roll over, he added.

KSE-Allshare index sup by 79.88 points or 0.43 percent to end the day at 18847.35 points, KSE-30 index added 80.37 points or 0.42 percent to stop the day at 19104.55 points while KMI-30 share index shed by 103.13 points or 0.24 percent to conclude the session at 42733.13 points.

The day turnover of market settled at Rs 273.254 million shares compared to 255.158 million shares of the previous day. Value of traded shares minimised to Rs 8.228 billion from Rs 11.187 billion and the capitalisation of the market maintained at Rs 6.130 trillion from Rs 6.104 trillion of a day earlier.

During the session 382 companies exchange their hands where 224 closed in positive and 135 in negative while the value of 23 stocks not changed. Nestle Pak and Rafhan Maize reflected the highest increased up by Rs 199 to Rs 8299 and Rs 134 to Rs 8034. Bata (Pak) and Colgate Palmolive were the top losers of the day decreased by Rs 95.47 to Rs 2703.53 and Rs 53.99 to Rs 1696.

Analyst Ahsan Mehant said trade remained high amid concerns for proposed new US law on US aid blockage to Pakistan upon NATO supply route blockage and political protests due over the weekend impacted sentiments. 

In the top ten scrips Dewan Cement was the volume leader with 22.677 million shares up by Re 0.65 to Rs 7. PTCLA was on the second position with 13.943 million shares grew by Re 0.03 to Rs 31.28.

It was followed by Banak Al-Falah with 11.473as that closed at Rs 28.13 after opening at Rs 27.10, Fauji Cement with 11.481 million shares added Re 0.06 to Rs 14.33 and Lafarge Pak with 11.106 million shares off by Re 0.02 to Rs 8.37. 

In a weekly review dealer said despite positive developments taking place on macro-economic front, market remained under stress during the first half. Late rally in banking sector scrips, mainly led by MCB remained the prime factor behind market gaining 107pts and creating yet another high of 25,579 level. This has been the fourth time in the past 5 trading sessions that market created new highs. With saying that, participation remained on the lower side coupled with average volumes declining by 26pc to Rs8.2b.