karachi -

Stocks closed at an all-time high amid higher trades on institutional interest in stocks across the board on strong valuations. Led by foreign buying in large cap stocks, market closed at a new high above 20,800 points mark on Monday.

At local equity market, the benchmark KSE 100-share index added 277.11 points or 1.35 per cent to close the day at 20814.14 points compared to 20537.03 points of the last working day on Friday.  Equity dealer said newspaper reports of early resolution of circular debt helped PSO to close at its upper cap. Heavy weight OGDC also rallied and closed 5% up.

Out of 394 companies 224 closed in positive and 149 in negative while the values of 21 stocks did not change. Bata (Pak) and Unilever Food were the biggest price gainers of the day, up by Rs 50 to Rs 1875 and Rs 50 to Rs 5150. Shield Corporation and Phillip Morris Pak led the down hill trend, decreased by Rs 9.99 to Rs 190 and Rs 6.29 to Rs 252.01.  KSE-Allshare index gained 243.31 points or 1.68 percent to close the day at 14711.06 points, KSE 30-share index went up by 240.35 points or 1.51 percent to end the day at 16161.63 points while KMI 30-share index increased by 647.06 points or 1.85 percent to conclude the session at 35632.57 points.

During the session, market traded 343.599 million shares after opening at 372.302 million shares and the value of traded shares climbed to Rs 10.873 billion from Rs 9.102 billion. The capitalization of local bourse maintained at Rs 5.071 trillion compared to Rs 4.989 trillion of a day earlier.

Analyst said speculations for early resolution of circular debt crises as economic priority of new government, rising local cement and urea prices and foreign interest in oil and energy stocks played a catalyst role in bullish post election rally at KSE despite concerns for rising current account deficit and rupee instability ahead of IMF repayments due.

Lafarge Pakistan was the volume leader of the day with 37.718 million shares, up by Re 0.89 to Rs 7.79. The second position maintained by Maple Leaf Cement with 24.821 million shares, higher by Re 0.75 to Rs 21.10. It was followed by Fauji Cement with 21.020 million shares, up by Re 0.33 to Rs 11.06, B.O Punjab (R) with 15.018 million shares, shed Re 0.04 to Rs 1.71 and Dewan Cement with 12.456 million shares, extended by Re 0.35 to Rs 6.41.