KARACHI - Bullish spell continued at local equity market as KSE closed yet again at highest level with the addition of 353.33 points to 25962.18 points compared to 25608.85 points of the previous day.
Analysts said after below expected CPI Inflation data for Dec’13 recorded at 9.18pc YoY and easing concerns for major change in SBP policy announcements made possible gaining spree.
Speculations continued ahead of corporate earning announcements due next week. Rally was led by oil, fertilizer and banking stocks. Rise in local fertilizer prices after GIDC levy on fertilizer units, higher local cement prices and expectation for record full year results in banking sector triggered the rally on higher trades, he added.  Volumes improved by 22 percent to Rs 12.342 billion after opening at Rs 10.124 billion while the capitalisation of the market stopped at Rs 6.224 trillion compared to Rs 6.136 trillion of a day earlier. The day turnover of market in term of shares was 387.231 million after opening at 341.090 million shares.
During the session, 402 companies participated in the trading where gainers held the strong lead over the losers 259 to 128 while the value of 15 stocks remained intact. Nestle Pak was the top price gainer of the day up by Rs 273.50 to Rs 8200 followed by Bata (Pak) increased by Rs 146.60 to Rs 3078.68. Siemens Pakistan and Sanofi-Aventis were the top losers of the session decreased by Rs 22.35 to Rs 1358.56 and Rs 19.59 to Rs 739.24.
With Engro increasing the price of urea, renewed investors’ interest was seen in fertilizer sector, after under-performing the market during the last few trading sessions due to news regarding imposition of additional cess on gas consumers. Since cess is not imposed on Fatima, it remained the prime beneficiary of this price increase and closed on its upper cap with 13.5m shares traded, equity dealer observed.
Active list was topped by JS Co with 36.299 million shares added Re 0.63 to Rs 10.33. Azgard Nine was on the second position with 29.436 million shares off by Re 0.10 to Rs 8.29. It was followed by Maple Leaf Cement with 14.510 million shares misplaced Re 0.61 to Rs 28.69, Fatima Fert with 14.069 million shares added Re 0.57 to Rs 29.87 and Fauji Cement with 13.485 million shares as it closed at Rs 16.24 after opening at Rs 16.59.