KARACHI - Another dull session was witnessed at local bourse on Thursday with volumes remaining low. Market is in the need of any news from political and corporate fronts. Interest was seen in Al-Abbas Cement with 12m shares exchanging hands. Institutional buying was also seen in banking stocks like MCB, UBL and NBP.

At local equity market, the benchmark KSE 100-share index gained 41.20 points or 0.22pc to end the day at 18764.55 points compared to 18723.35 points of the previous day.  KSE allshare-index went up by 13.24 points or 0.10pc to end the day at 13300.01 points, KSE 30-share index increased by 45.72 points or 0.31pc to conclude the day at 14658.62 points and KMI 30-share index gained 55.90 points or 0.17pc to end the day at 33121.22 points.

An analyst said index remained in narrow range with thin trade, led by cement and fertilizer stocks on strong valuations. Higher global stocks, easing gas supply issues in fertilizer sector, strong data on auto sales with 43pc QoQ growth, higher urea and cement sales and hopes for early resolution of CCP levy on telecom, fertilizer sector played a catalyst role in bullish sentiments at KSE ahead of quarter-end results amid concerns over rising fiscal deficit and circular debt issue in energy sector. Stock traded 125.168m shares on Thursday after opening at 151.465m shares and the value of traded shares reduced to Rs 4.701b from Rs 5.438b. Capitalization of equity market maintained at Rs 4.615tr as compared to Rs 4.612tr of a day earlier.

Trading took place in 345 companies where losers beat the gainers by 167 to 152 while the value of 26 stocks remained intact. Rafhan Maize was the top loser of the day, decreased by Rs 215 to Rs 4085, followed by Unilever Food XD, down by 58 to Rs 5000. Bata (Pak) XD and Wyeth Pak Ltd XD were the top gainers of the day, up by Rs 83 to Rs 1773 and Rs 56.88 to Rs 1194.58.

Al-Abbas Cement was the top traded company of the day with 12.7879m shares, up by Re 0.27 to Rs 6.30. It was followed by Engro Corp with 9.083m, Engro Polymer with 7.766m, Maple Leaf Cement with 7.248m, JS Co XD with 6.411m, PIAC (A) with 5.504m, Pak Elektron  with 5.122m, Wateen with 3.475m, Kohinoor Energy with 2.830m and Engro Foods Limited with 2.684 million shares respectively.