KARACHI - KSE closed all time high led by selected blue chip stocks across the board on strong earnings outlook.

The rising trend continued in the local equity market, benchmark KSE-100 share index marked with addition of 92.76 points at 18,173.67 points compared to 18,080.91 points of the previous day.

Dealers said, led by MCB and Engro, local bourse closed to an all time high level with healthy volumes of Rs.9.5b. Engro Corp gained 4pc with 17m shares exchanged hands amid expectation of some additional supply from March. Institutional support helped MCB to close 5pc up.

KSE-Allshare index grew by 76.37 points or 0.60 percent to end the day at 12,768.64 points, KSE-30 share index up by 41.02 points or 0.28 percent to close the day at 14,874.17 points while KMI-30 share index misplaced 25.96 points or 0.08 percent to end the trading at 31,362.24 points.

The turnover of stock market in term of shares was settled at 318.312 million shares after opening at 269.537 million shares. Value of trading shares climbed to Rs 9.530 billion from Rs 7.277 billion and the capitalisation of stock market settled at Rs 4.514 trillion compared to Rs 4.494 trillion of a day earlier.

Rising global stocks and commodities on strong US housing data, expected new Pak-IMF loan agreements, SBP interventions to arrest rupee fall, ECC approval for Rs49b guarantees to PIA, expected hike in OMC margins, MOF release of Rs.15b to PSO easing circular debt concerns in energy sector, strong textile sector exports data and hopes for OGDC gas sales agreement with fertilizer companies played a catalyst role in bullish sentiments at KSE, analyst observed.

Trading took place in 369 companies where losers beat the gainers 192 to 155 while the value of 22 stocks remained intact. Unilever Pak was the biggest loser of the day down by Rs 350 to Rs 10450 followed by Fazal Textile down by Rs 14.89 to Rs 283.10. Rafhan Maize Prod and Sanofi Aventis Pak were the top gainers of the day up buy Rs 179.95 to Rs 3929.95 and Rs 17 to Rs 357.

After a day break Telecard Limited again took the top position in active list with 56.125 million shares as it closed at Rs 7.41 after opening at Rs 7.40. PIAC (A) was on the second position with 42.145 million shares up by Rs 1 to Rs 6.32. It was followed by PTCLA with 29.038 million shares shed by Re 0.09 to Rs 23.44, Engro Corporation with 17.002 million shares added Rs 4.29 to Rs 121.19 and Azgard Nine with 14.406 million shares increased by Re 0.31 to Rs 8.76.