KARACHI;

The stocks on Monday closed bullish lead by banking and fertilizer scrips after SBP announced status quo on key policy rate. The PSX shares index posted a gain of 579.55 points (up 1.85 %) to close at 31878.15 points.

Inflation number was announced today which was 3.3% for the month of Jan-16.

Banks were strong today due to no rate cut announced yesterday. BAFL, HBL & UBL all closed at their upper limits.

Most oil scripts also gained with POL, PPL & PSO gaining 1.18%, 0.76% & 2.84% respectively, stated Hammad Aman at Equity Topline Securities.

Traded volume decreased by 5 % to 134.3mn shares, while traded value decreased 12.9% to Rs8.1bn.

Expectation for improvement banking spreads, upbeat fertilizers off-take data and upbeat earnings outlook for cash rich corporate impacted the sentiments, observe Ahsan Mehanti at Arif Habib Corp.

Limited reduction in local petroleum prices, institutional interest in selected cement scrips on impact of new CPEC projects and recovery in crude oil prices played a catalyst role in bullish activity at PSX.

B.O. Punjab emerged as volume leader in the market with traded shares 21.7 mn, followed by Pak Elektron with 9.4 mn and and Fauji Cement with 6.4 mn shares were in spotlight.

Out of total 320 traded companies in the session, 192 concluded in advance, 104 in decline, while 24 went unchanged.