Stocks closed bullish amid high trades in the earning announcement session at KSE on strong earnings outlook.

At local equity market benchmark KSE-100 share index gained 68.39 points or 0.38 percent to end the day at 17,865.61 points as compared to 17,797.22 points of the last working day on Friday.

Market expert observed that $62 million current account surplus for July-Jan 2013, expected hike in KESC power tariff easing, circular debt concerns in energy sector, speculations ahead of US CSF release, hopes for OGDC gas sales agreement with fertilizer companies and improved outlook for LDI segment revenue for telecom stocks played a catalyst role in bullish sentiments at KSE despite security concerns in the city and rising political uncertainty after key coalition partner exits government.

KSE-Allshare index added 23.76 points or 0.19 percent to close the day at 12,614.88 points, KSE-30 share index grew by 61.51 points or 0.42 percent to finish the day at 14,624.29 points while KMI-30 share index enlarged by 117.89 points or 0.38 percent to finish the day at 31,006.92 points.

Led by Engro and DGKC, Karachi bourse achieved new high. Positive news flow coupled with expectation of smooth transition of power helped equity prices. PTC with volume of 29m shares remained in limelight due to excellent December quarter earnings. Engro also rallied after news that direct gas from OGDC will help its fertilizer business, dealers observed.

The day turnover of stock market in terms of shares was 291.611 million shares after opening at 262.746 million shares and the value of traded shares was climbed to Rs 7.177 billion from Rs 7.063. The capitalisation of stock market settled at Rs 4.469 trillion compared to Rs 4.461 trillion of a day earlier.

Trading took place in 331 companies where losers beat the gainers 162 to 147 while the value of 22 stocks remained intact. Unilever Pak was the biggest price gainer of the day up by Rs 100 to Rs 10400 followed by Pak Services up by Rs 5.41 to Rs 187.50. Downhill trends were led by Bata (Pak) and Indus Dyeing SPOT decreased by Rs 34 to Rs 1440 and Rs 25.97 to Rs 493.53.

In the top ten scrips, PTCLA was the volume leader of the day with 29.234 million shares up by Re 0.82 to Rs 22.77. It was followed by Pace (Pak) Limited with 26.601 million, NIB Bank Limited with 19.832 million, Fauji Cement with 17.631 million, Telecard Limited with 17.122 million, JS Company with 14.354 million, Engro Corporation with 13.071 million, Maple Leaf Cement with 11.275 million, Dera Ghazi Khan Cement with 10.548 million and Aisha Steel (Con/PS) with 8.912 million shares respectively.