KARACHI, April 2: The KSE 100-share index on Wednesday maintained its creeping rally and confidently crossed the so far an elusive goal of 15,333 points but investors seem to have decided to go slow to the new targeted level of 16,000 points after due consolidation. An interesting analysts debate on the figure of ‘3’ was the hallmark of Wednesday’s trading but those who were more superstitious pulled it down though fractionally from the triple three to be safe from their negative fallout, which otherwise should have been the final closing in normal trading.

“The figure of triple 333, which it hit has a different meaning to different people”, said a broker jokingly adding, “Some, notably in the cricketing world, consider it terribly unlucky but Muslims say it is a lucky figure as ‘taaq’ has a precedence on ‘juft’ in more than one ways”.

But a leading investor, who is more shaky and apparently operates under his whims about the lucky and unlucky figures, indulged in selling in a leading base share only to push it down below this widely speculated unlucky figure to allow it to close at 15,332.91 points from the peak of 15,333.79, up 123.05 points. The KSE 30-share index ended at 18,681.31, with a gain of 111.30 points.

The debate among the leading analysts was that whether or not the index will build on it a fresh sound rally but those who consider it unlucky predict it could falter before hitting the target because of an unlucky number, he added.

All appears to be now calm on the political front after the swearing in of the new cabinet leading to full transfer of power to the elected members and investors supported it by adding strength to the already robust market, analysts said.

The robust rally reflects that the market ignored the likely impact of speculated legal battles between the government and the presidency on some core issues and local investors and financial institutions worked in unison to keep the market in a good shape, they said.

Foreign buying was there and it has more than one reasons to be there but it is pretty difficult to quantify it at this stage, they said, adding “no one among them would like to miss the bandwagon at this stage”.

“The creeping rally, of course, after technical consolidation, reflects that the end of the political uncertainty, market’s inherent strength and some positive developments on the corporate front could keep the market in a good shape in the coming sessions also”.

Traded volume rose to 249m shares from the previous 218m shares as gainers extended their lead further over the losers at 211 to 127, with 39 shares holding on to the last levels.

Siemens Pakistan and Rafhan Maize led the list of gainers, up by Rs76.70 and Rs128.60, followed by EFU Life, Thal Industries, Pakistan Resource Co, Lakson Tobacco, Dawood Hercules, BOC Pakistan, Cherat Papersack, Fazal Textiles and Pakistan Services, which posted gains ranging from Rs8.50 to Rs25.10.

While major losers included Bata Pakistan and Unilever Pakistan, off by Rs15 and Rs13, respectively. Others mostly fell fractionally barring Fateh Textiles, PSO, Murree Brewery, Grays of Cambridge, and AKD Capital, off by Rs5 to Rs10.10.

BankIslami Pakistan topped the list of actives, up one rupee at Rs20.45 on 17m shares followed by Arif Habib Securities, higher by Rs3.75 at Rs182.70 on 11m shares, PTCL, up by Rs1.10 at Rs46.75 also on 11m shares, D.G. Khan Cement, steady by 35 paisa at Rs113.45 on 10m shares, JS Bank, firm by 20 paisa at Rs22.15 also on 10m shares, Nishat Mills, sharply higher by Rs5.35 at Rs113.30 on 8m shares and Pakistan Petroleum, up Rs3.45 at Rs264.75 on 7m shares.

Other actives were led by Pak PTA, firm by 15 paisa at Rs5.75 on 15m shares, TRG Pakistan, up 90 paisa at Rs11.90 on 12m shares, and Azgard Nine, sharply higher by Rs3.50 at Rs74.20 on 7m shares.

FORWARD COUNTER: JS Bank led the list of actives on the cleared list, unchanged at Rs22.30 on 3m shares followed by Lucky Cement, lower by 35 paisa at Rs138.90 also on 3m shares, D.G. Khan Cement, up 40 paisa at Rs114.40 on 2m shares and Bank of Punjab, up 25 paisa at Rs67.75 on 2m shares.