KARACHI, March 8: Share market on Thursday consolidated overnight gains as investors remained active buyers around the current levels on the blue chips counters as broker worries linked to post-CLN regime were removed by the agreed formula between the parties on the issue.

The steep increase in the daily trading volume reflects that consensus among the contenders has almost normalised activity on the share market after a protracted sluggishness, the turnover figure being the chief causality, analysts said.

The KSE-share index recovered another 137.60 points at 11,283.87 or 1.2 per cent amid an actively traded session where traded volume soared to 283 million shares after several lean sessions. The KSE 30-share index also rose by 203.43 points at 14,245.06 points.

All the leading base shares netted fresh gains under the lead of OGDC, Pakistan Petroleum, National Bank and some other as investors continued to build-up long positions on the banking, cement and oil shares at the current lower levels.

Bulk of the support again originated from the financial institutions and some punters but the general investors played safe and were not inclined to take even a calculated risk, floor brokers said.

“I doubt the presence of foreign investors in the developing situation on the Pakistan-US relations in the backdrop of successive threats about aid cut and the Taliban related issues,” says a leading analyst.

But a sizable increase in the turnover figure reflects that the local investors led by the financial institutions are active buyers at the current levels and mean business irrespective of external threats, they added.

Pak-Suzuki Motors and IGI Insurance were among the top gainers, up by Rs23 and Rs23.25, followed by Fazal Textiles, Pakistan Petroleum, Indus Motors, Bata Pakistan, National Foods, Treet Corporation, Dawood Hercules and Colgate Pakistan, which posted gains ranging from Rs5 to Rs15.

Losses on the other hand were mostly fractional barring Gillette Pakistan and Nestle Pakistan, which were marked down by Rs7.20 and Rs70.05, while Adamjee Insurance, Quetta Textiles, Gatron Industries, and Sitara Chemical fell by Rs3.90 to Rs4.25.

Turnover figure rose to 283m shares as gainers maintained a strong lead over the losers at 226 to 109, with 42 shares holding on to the last levels.

Bank AlFalah topped the list of actives on strong foreign buying and rose by Rs1.20 at Rs54.45 on 36m shares followed by OGDC, up by Rs1.75 at Rs120.55 on 28m shares, D.G.Khan Cement, higher by Rs4.35 at Rs92.15 on 24m shares, Bank of Punjab, steady 75 paisa at Rs121.15 on 14m shares, Pakistan Petroleum, higher by Rs5.50 at Rs257.50 on 14m shares, Lucky Cement, up Rs3.55 at Rs74.85 on 15m shares and National Bank, higher by Rs1.95 at Rs269 on 11m shares.Other actives were led by Fauji Cement, up 90 paisa on 14m shares followed by Fauji Fertiliser, steady by 45 paisa also on 14m shares, and Nishat mills, up Rs4.90 on 9m shares.

FORWARD COUNTER: OGDC led the list of actives on the cleared list, higher by Rs1.65 at Rs121.15 on 9m shares followed by Pakistan petroleum, higher by Rs5.25 at Rs258.50 on 8m shares and D.G.Khan Cement, up Rs4.40 at Rs92.70 also on 8m shares.

Bank AlFalah followed them, up one rupee at Rs54.50 on 6m shares and National Bank, higher by 20 paisa at Rs269 also on 6m shares.

DEFAULTER COS: Zeal Pak Cement led the list of actives, up 45 paisa at Rs6.35 on 2.030m shares followed by Crescent Standard Bank, steady by five paisa at Rs4 on 1.568m shares and Schon Modaraba and Unity Modaraba, up 15 paisa and unchanged, respectively, at 90 and 55 paisa on 0.172m shares each. Nimir Chemical was traded lower by five paisa at Rs3.05 on 0.122m shares.