KARACHI - Bullish activity witnessed in stocks across the board amid higher trades after announcement of general election date by President and investor’s speculations ahead of appointment of caretaker Prime Minister.

At local equity market benchmark KSE-100 share index gained 159.65 points or 0.90 percent to end the day at 17,913.62 points compared to 17,753.97 points of the previous day. Stock Analyst Ahsan Mehanti said renewed foreign interest in blue chip stocks and institutional support on strong valuations ahead of quarter end close played a catalyst role in bullish sentiments despite concerns for security unrest in the city, Supreme Court call on LDI operators on ICH issue and rising budget deficit.

KSE-Allshare index added 111.68 points or 0.89 percent to finish the day at 12,594.29 points, KSE-30 share index up by 21.55 points or 0.15 percent to close the day 14,266.75 points while KMI-30 share index grew by 245.75 points or 0.79 percent to conclude the day at 31,222.09 level.  Market traded 235.907 million shares after opening at 265.881 million shares and the value of traded shares was minimised to Rs 7.751 from 7.593 of previous session. Capitalisation of KSE maintained at Rs 4.380 trillion compared to Rs 4.362 trillion of a day earlier.

Dealers said continuous support from local and foreign fund managers kept market up. Renewed buying interest was seen in cement stocks amid hope of better March quarter result. While heavy weight OGDC and Engro Corp also remained on investors’ radar.

Trading took place in 343 companies where gainers outnumbered the losers 208 to 115 while the value of 20 stocks remained intact. Unilever Pak was the biggest price gainer of the day up by Rs 100 to Rs 10800 followed by Bhanero Tax increased by Rs 15.15 to Rs 318.16. Pak Suzuki Motors and Hinopak Motors were the top losers of the day decreased by Rs 5.30 to Rs 100.80 and Rs 4.49 to Rs 85.41.

TRG Pakistan was the day volume leader with 39.076 million shares as it closed at Rs 7.28 after opening at Rs 7.08. It was followed by Fauji Cement with 34.603 million shares enlarged by Re 0.18 to Rs 8.40, Lafarge Pakistan with 15.289 million shares off by Re 0.05 to Rs 6.54, Engro Corporation with 13.710 million shares added Rs 4.59 to Rs 131.20 and JS Company with 8.451 million shares gained Re 0.23 to Rs 14.36.