LAHORE: The stock market was finally relieved and saw an upward trend after a week of chaos, before finally closing on a high despite thin volumes. The speech from the military leadership helped ease pressures within the market as investors were reassured.
The benchmark KSE 100 surged 875.29 points to a high of 41,343.78 during the day and ended nearby at 41,312.59 with an appreciation of 844.10 points. The KMI 30 index ballooned 2.61 per cent which is 1,808.24 points during the day pushed up by the cement sector. The KSE All Share Index jumped 488.87 points to 29,650.56. Only 81 scripts closed in the red zone while 263 clinched returns.
The market volumes did not demonstrate the same bright picture. It reduced from 150.27 million to 147.76 million today. TRG Pakistan Limited (TRG +5.01 per cent) dominated the chart with 10.18 million shares exchanged. Yesterday top gainer Maple Leaf Cement Factory (MLCF +4.30 per cent) was next with 9.09 million shares put on the table.
Its peers D.G. Khan Cement Limited (DGKC +5.01 per cent), volume 3.94 million, Power Cement Limited (POWER +6.20 per cent), volume 5.45 million, Fauji Cement Company Limited (FCCL +4.98 per cent), Lucky Cement Limited (LUCK +2.35 per cent) and Thatta Cement Company Limited (THCCL +4.96 per cent) also featured in the list of top 30 traded scripts.
Pioneer Cement Company Limited (PIOC +4.99 per cent) hit the upper circuit breaker after it signed an agreement to acquire 100 per cent stakes of Galadari Cement to increase production in the wake growing local demand. The cement maker is place in district hub of Balochistan.
Habib Metro Modarba (HMM +1.20 per cent) got listed on the Pakistan Stock Exchange. On the first day of trading, the script gained 1.20 per cent to touch Rs 10.12.
