KARACHI - Stocks closed higher in the quarter end earning announcements session at KSE as investors accumulated oversold stocks.

At local equity market benchmark KSE-100 share index marginally gained 5.21 points or 0.03 percent to close the day at 15,853.84 points as compared to 15,848.63 points of the previous day. Market analyst Ahsan Mehanti said record earning announcements and lower leverage cost played a catalyst role in bullish sentiments at KSE despite concerns for circular debt issues in energy sector and uncertain global stocks and commodities. Institutional speculations in selected blue chip stocks ahead of earning announcements affected the sentiments at KSE.

KSE-Allshare index slightly shed by 0.35 points to stop the day at 11,148.37 points, KSE-30 shares index down by 10.98 points or 0.08 percent to close the day at 12,962.72 points while KMI-30 share index up by 8.73 points or 0.03 percent to finish the session at 27,775.30 level.

Equity dealer Samar Iqbal said profit taking at the end of the session caused index to remain flat. In line result announcement by OGDC even failed to bring excitement. Pre-result buying in DGKC kept him the volume leader as investors are hoping healthy earnings announcement tomorrow. 

Trading took place in 348 companies where 176 closed in positive and 150 in negative while the values of 22 stocks remained intact. Bata (Pak) Limited was the biggest price gainer of the day higher by Rs 41.77 to stop at Rs 1419.33 while Colgate Palmolive was the biggest loser of the day down by Rs 20.45 to end at Rs 1349.55.

Market traded 103.330 million shares after opening at 149.119 million shares and the value of traded shares was reduced to Rs 3.918 billion from Rs 4.859 billion. Stock capitalisation settled at Rs 3.962 trillion as compared to Rs 3.964 trillion of a day earlier.

The top ten scrips topped by Dera Ghazi Khan with 7.173 million shares as it closed at Rs 51.77 after opening at Rs 51.22. JS Siddiqi Company was on the second position with 6.002 million shares decreased by Re 0.44 to stop at Rs 14.49. It was followed by Pace (Pak) Limited with 5.453 million shares up by Re 0.25 to stop at Rs 3.52, PTCLA with 4.519 million shares added Re 0.06 to conclude at Rs 19.20 and Lucky CementXD with 3.935 million shares misplaced Re 0.85 to settled at Rs 139.33.