KARACHI

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After a smooth roll over week, the benchmark KSE 100-index on Monday gained 173.29 points to close at 32,674.04 points.

Stocks dependent on gas supply, like cement and fertilizer, gained as the Prime Minister ordered the Ministry of Petroleum & Natural Resources not to increase gas prices till June 2016. Stocks like ENGRO, EFERT and FFC gained in a range of 0.59-5% while LUCK, MLCF and DGKC increased in a range of 0.14-0.95%, observed Muhammad Rizwan Head of Sales Topline Securities. UBL increased 0.2% on investor anticipation of better year-end results.

Traded volume was increased by 15% to 120m shares and traded value inched up by 3% to Rs7.09b.

Analyst Ahsan Mehanti said stocks showed recovery amid thin trade on higher global commodities.

Concerns remain over ongoing foreign outflows and political instability. Reports on rising local fertilizer prices, improving Pak-India relations and institutional interest in oversold oil, fertilizer and cement stocks ahead of year end close played a catalyst role in bullish close.

Out of total 330 traded companies in the session, 157 closed in advance, 143 in decline, while 30 remained unchanged.

Major activities were seen in TRG, Byco Petroleum, and Sui North Gas with traded volumes of 11m, 6.6m and 6.2m shares respectively.