KARACHI  - Led by four-month CPI (inflation) figure, the market rallied by 162 points to close at 26,946 levels with high participation as volumes reached Rs11.2b.

Asad Siddiqui expert at Topline Securities, said better than expected result from PTC coupled with impressive dividend kept investors’ interest high in the scrip, interest was seen in Engro, PSO, POL and NML amongst others.

Moreover, on the news that government is working on a drug pricing mechanism, majority of the pharma stocks rallied on Monday. However, selective profit taking was seen in cement sector scrips.

The KSE-Allshare index up by 21.58 points or 0.11 percent to stop the day at 20265.89 points, KSE-30 index grew by 153.94 points or 0.80 percent to conclude the session at 19450.69 points while KMI-30 share index extended by 377.28 points or 0.85 percent to finish the trading at 44563.84 points.

Stocks closed higher with higher trades ahead of major earning announcements due this week, analyst Ahsan Mehanti observed.  Record result announcement by PTCL, expected successful peace talks with TTP played a catalyst role in bullish activity at KSE despite major fall in Asian stocks. 

The day turn over of market in term of shares was 292.124 million compared to 346.571 million shares of the last working day on Friday while the capitalisation of the market maintained at Rs 6.614 trillion after opening at Rs 6.607 trillion.

Trading took place in 406 companies where gainers outnumbered the losers 201 to 187 while the value of 18 stocks remained intact. Highest decreased reflected in the price of Nestle Pak off by Rs 624 to Rs 11856 while Muree Brewery was the biggest price gainer of the day up by Rs 40.06 to Rs 841.29.

Jahangir Siddiqui Company topped the active list with 22.195 million shares higher by Re 0.91 to Rs 12.27. Fauji Cement was on the second position with 18.626 million shares shed by Re 0.36 to Rs 16.61. It was followed by Bank of Punjab (R) with 16.775 million shares as it closed at Rs 2.91 after opening at Rs 3.10, Azgard Nine with 12.514 million shares off by Re 0.28 to Rs 9.74 and K.Electric Ltd with 10.602 million shares up by Re 0.10 to Rs 6.55.