RECORDER REPORT

KARACHI: Report about Monetary Policy Statement (MPS) was seen playing with investor sentiment at the bourse where the KSE-100 index peaked to another historic high of 39,469 points Thursday.

Showing volatility in the intraday trade, the benchmark index added 34 points, 00.9 percent, to 39,435 of last session.

“Stocks closed higher led by cement, banking and textile stocks on speculations ahead of MPS on Saturday,” viewed analyst Ahsan Mehanti at Arif Habib Corp.

The index-heavy oil stocks, he said, remained weak on falling global crude prices.

Mehanti cited rising international cotton prices and foreign inflows as catalysts in the record close at PSX saying however that dismal earnings in fertilizers stocks concerned investors.

Hammad Aman of Topline Securities said the index recorded yet another high continuing from Wednesday mainly led by banks.

Trading turnover at the ready-counter was recorded contracting to 181 million shares, the value of which depreciated to Rs10.49 billion from the previous Rs13.26 billion.

With market capital standing higher at Rs7.87 trillion, foreign investors appeared jittery to have sold portfolios worth $1.39 million. This was because of corporate investors who made a net selling of $1.21 million.

Dewan Motors led volumes with 12.36 million shares each valued up at Rs19.41 at the day’s end. Dewan Cement, TRG Pakistan, SNGPL, PTCL, Agritech Limited, K-Electric, Nishat Chunian, Pak Elektron and Treet Corporation were other issues changing hands the most.

Futures trade slid to 71 million contracts from 82 million of Wednesday.

Pak Suzuki Motor Company (PSMC) ebbed to its lower limit of 5 percent as the company declared earning per share of Rs5.93 which, Aman said, was below market expectations.

Continued interest in banks led HBL, NBP and MCB to gain 0.8-2.2 percent.