KARACHI - Stock market started new year on a bullish note. In spite of selling by foreigners in December, local investors were enthusiastic due to falling inflation. Cement sector rallied due to good numbers for the half year ending December 2014. Engro once again attracted huge volume and the stock closed 5pc up and the KSE-100 index increased by 349.07 points to close at 32480.35 points level for the first time ever.

The All-Shares Index rose by 185.59 points and closed at 23583.50 points, KSE-30 Index up by 262.94 points and concluded at 21034.49 points while KMi-30 Index grew by 752.90 points and settled at 51488.02 points.

Stocks closed all time high amid higher trades after CPI Inflation data for Dec’14 stood at 4.3pc YoY raising expectation for cut in SBP Policy rate later this month. Govt decision for cut in local petroleum prices after slump in WTI Crude to over 5 year lows, extension of gas allocation to Engro Fertilizers and expectation for strong earnings in fertilizer, banking and cement sector played a catalyst role in bullish activity, stated analyst Ahsan Mehanti.

Lafarage Pak with 19m shares and per share price 17.88 (0.53), Maple Leaf Cement with 17m shares and per share price 46.46 (2.21), Jah.Sidd.Co with 16m shares and price per share 15.33 (0.79), TRG Pak Ltd with 10m shares and per share price 15.01 (0.45) and Fauji Cement 9m shares and per share price 26.76 (0.92) were the volume leaders.

Volumes rose to 230m shares, while value decreased to $125m (value PKR125bn).

Bata (Pak) with per share price 3570.22 (80.22) and Siemens Pakistan with per share price 1170.31 (55.72) were the gainers. While Rafhan Maize with per share price 11000.00 (-203) and J.D.W Sugar with per share price 290.33 (10.21) were the losers.

Total traded companies in the market were 349 of which 234 showed positive, 95 negative trends while 20 remained unchanged.