KARACHI: The KSE-100 index rose by 389 points (0.85 per cent) to close at 45,918.
Intraday maximum gain was 410 points.
Second-tier stocks such as TRG gained 1.4pc, ANL was up 4.5pc, ASL rose 4.8pc and DSL closed higher by 4.1pc, which churned out aggregate turnover of 70m shares or 31pc of total volume.
The traded value rose 88pc over the previous session to Rs10.2 billion. Market participation rebounded as the volume shot up 111pc to 224 million shares from 106m shares a day ago.
Analysts at Elixir Securities stated that the wider market saw better participation helped primarily by locals’ interest in select industrial and consumer plays. Although the market witnessed dull activity in the morning trade due possibly to the political noise and Monday’s terror attack in Lahore, the index gradually inched up as the day progressed.
Industrial and consumer players including Sui Northern Gas Pipelines which rose 2.8pc, International Steels 4.9pc, Engro Polymer 3.7pc, Pak Electron 3.2pc led gainers on buying interest from local institutions.
In the automobile sector, Honda Atlas Cars rose 2.9pc after a surprise payout and better first quarter earnings while Pak Suzuki Motors was marginally down by 0.6pc posting earnings, which fell below estimates.
DAWH which gained 3.4pc, Eengro 1.6pc, SNGPL 2.8pc, ISL 4.9pc and OGDC 1pc contributed 127 points to the index rise, while ABOT which fell 2.3pc, Lucky Cement 0.4pc, KTML 1.8pc, HBL 0.2pc and CHCC 1.2pc erased 35 points.
On the sector front, fertiliser added 75 points, OMC 48 points, E&P 47 points, banks 34 points and insurance 29 points; while textile shed 3 points.
Published in Dawn, July 26th, 2017
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