KARACHI - Pakistan Stock Exchange continued its record-breaking upward march on Friday. The 100-share index gained 59.84 points (0.15%) to close at a new high of 39528.82 points. Lackluster activity was observed as some technical issue led to less working hours, brokers said. 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, dealers said.

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%). Fertilizer sector gained to close in the green zone as fertilizer dispatch number released by NFDC showed 41% MoM growth. Major gainers of the aforementioned sector were FATIMA (up 1.54%) and EFERT (0.53%). LUCK (up 1.57%) 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 USD30 million. Investor interest was seen in both the gas utilities, as SNGPL (up 5%) and SSGC (3.41%) gained to close in the green zone, stated analyst Nabeel Haroon.

Volumes decreased by 20% to 145m shares and value decreased by 30% to Rs 7.3b/$70m.

SNGPL and KEL led the volumes with 42m shares traded combined. SNGPL closed at its upper limit while KEL gained 1.1%. LUCK announced to expend its plant capacity by 1.25m tons per annum, which led interest as the stock gained by 1.5%. Oil stocks declined as international oil prices continued to fall. POL, PPL and OGDC declined by 2.4%, 0.5% and 1% respectively, said dealers at major brokerage.