karachi - Karachi market kept on rallying amid better result announcements and sector wise favourable decisions of ECC.

The KSE 100 index further grew by 172.44 points or 0.57 percent to end the day at 30376.53 points compared to 30204.09 points of the last working day on Friday.

Ahsan Mehanti analyst at Arif Habib Corp said stocks closed bullish amid thin trade ahead of long week end on account of Ashura holidays led by oil, fertilizer and auto stocks on strong valuations.

ECC approval on upward revision in OMCs margins, expected approvals on new auto industrial development policy, PC announcements on OGDCL 7.5pc share sale transaction book building next week and recovery in global stocks played a catalyst role in bullish close at KSE despite concerns for political opposition on Govt privatisation plans, he added.

KSE-Allshare index gained 110.54 points or 0.50 percent to close the session at 22269.40 points, KSE-30 index up by 108.05 points or 0.54 percent to stop the session at 20104.82 points while KMI-30 index increased by 288.84 points or 0.60 percent to conclude the session at 48699.15 points.

A dealer said auto assemblers also continue rallying amid depreciating JPY and POL also rallied after better than consensus September quarter result announcement.

Market traded 140.856 million shares after opening at 151.727 million shares and the value of traded shares climbed to Rs 9.613 billion from Rs 9.151 billion. The capitalisation of the market maintained at Rs 7.033 trillion compared to Rs 7.001 trillion of a day earlier.

Trading took place in 371 companies where gainers beat the losers 200 to 157 while the value of 14 stocks remained intact. Rafhan Maize was the biggest price gainer of the day up by Rs 535 to Rs 11235 followed by Murree BreweryXd up by Rs 46.89 to Rs 1007.05.

Bata (Pak) SPOT and Island Textile XD were the biggest price losers of the day decreased by Rs 87 to Rs 3260 and Rs 54.49 to Rs 1035.50. Active list was topped by Pak Elektron with 14.355 million shares as it closed at Rs 28.34 after opening at Rs 27.01. Pak Klektron (R) was the second highest on volume chart with 9.630 million shares grew by Rs 1.03 to Rs 7.95. It was followed by K-Electric Ltd with 6.317 million shares added Re 0.18 to Rs 7.82, Bank of Punjab with 4.644 million shares grew by Re 0.11 to Rs 8.90 and United Bank with 4.578 million shares higher by Rs 3.40 to Rs 196.60.