KARACHI, June 6: Stocks finished the weekend session on a mixed note as investors played on both sides of the fence, but took fresh positions on those counters which are expected to benefit from the rumoured relief in the budget due now on June 11. The Karachi Stock Exchange (KSE) 100-share index was quoted higher by 80.57 points at 13,134.56 as compared to 13,053.99 a day earlier, reflecting the strength of leading base shares.

The free float 30-share index also rose by 143.59 points at 15,449.56.

Owing to enhancement of day-time working by an hour from June 1 to save energy, the KSE authorities held only one session instead of two held on each Friday previously and the trading session was closed at 1.30 pm.

Amid heavy buying in the index, MCB Bank was said to be the chief factor behind the market’s surge despite a lot of weekend profit-selling followed by oil and cement shares, which ensure handsome capital gains, floor brokers said.

Although the national budget is again delayed by one more day on June 11, the sectors, which are expected to be the chief beneficiaries came in for active support and evoked a lot of sympathetic buying on other counters, they said.

Analysts said signs of foreign buying, both on the banking and oil counters, were visible but those who through it are injecting heavy amount in them.

“Upper locks in MCB and some other blue chips, including Pakistan Oilfields, Attock Refinery, indicated that investors may have found some positive clues about the fiscal relief in the budget due on June 11,” they added.

However, it was certainly not a pre-budget speculative support as was reflected by a light turnover and the weakness of the broader market, some others said.

Leading gainers were led by AKD Capital and Siemens Pakistan, up by Rs56.77 and Rs50, followed by National Foods, Al-Ghazi Tractors, Pakistan Oilfields, MCB Bank, JS Global, Adamjee Insurance, EFU General and EFU Life, which posted fresh gains, ranging from Rs12.10 to Rs20.93.

Losses on the other hand were modest and led by Fazal Textiles and Bhanero Textiles, off Rs19.99 and Rs8.85, respectively. Thal Industries, Attock Petroleum, Javedan Cement, Mitchell’s Farm, Tri-Pack Films, Sapphire Fibres, Arif Habib Ltd and Central Insurance followed them, off by Rs5 to Rs7.85.

Trading volume shrank to 161m shares from the previous 221m shares as losers held a lead over gainers at 168 to 128, with 22 shares holding on to the last levels.

D G Khan Cement topped the list of actives, steady 80 paisa at Rs79.80 on 11m shares followed by OGDC, up Rs2.10 at Rs131 also on 11m share, Arif Habib Securities, lower by Rs1.50 at Rs174.20 on 11m shares, Nishat Mills, higher by Rs3.10 at Rs100.60 on 9m shares, MCB Bank, sharply higher by Rs11.93 at Rs305.50 on 6m shares, Attock Refinery, up by Rs7.51 at Rs276.50 on 5m shares, PTCL, lower by 46 paisa at Rs43.40 on 4m shares and Pakistan Oilfields, higher by Rs14.99 at Rs394 also on 4m shares.

Other actives were led by NIB Bank, steady by 25 paisa at Rs13.50 on8m shares and Lucky Cement, up by Rs1.85 at Rs113.35 on 5m shares.

FORWARD COUNTER: MCB Bank led the list of actives on this counter, up by Rs7.35 at Rs307.25 on 7m shares followed by D G Khan Cement, firm by Rs1.30 at Rs80.80 on 4m shares, and OGDC, higher by Rs2.09 at Rs129.60 also on 4m shares.

National Bank followed them, lower by Rs1.30 at Rs174.70 on 4m shares. Others also rose were changed amid light trading.

DEFAULTER COs: Norrie Textiles came in for active selling and fell by 16 paisa at Rs2.29 on 3.847m shares followed by Zeal Pak Cement, steady by three paisa at Rs3.09 on 1.032m shares, Japan Power, lower by 10 paisa at Rs6.75 on 0.229m shares.