Karachi - Stocks continued bullish trend after Finance Minister hints Pak-IMF deal of $5.4b for new loan to deal with economic challenges.  The Karachi stock market benchmark KSE-100 share index gained 281.01 points or 1.32 percent to end the day at 21644.17 points compared to 21363.16 points of the previous day.  Stock analysts said bullish rally was lead by oil and fertilizer stocks ahead of earning announcements due this week.
Expected development on privatisation of SOE, speculations on early resolutions of circular debt issues in energy sector and recovery in global commodities, stocks played a catalyst role in bullish activity at KSE. KSE-Allshare index grew by 178.94 points or 1.18 percent to end the day at 15329.30 points, KSE-30 share index up by 254.97 points or 1.54 percent to finish the day at 16764.81 points while KMI-30 share index increased by 579.22 points or 1.55 percent to close the day at 37885.13 points.
In anticipation that IMF new loan will soon be approved, investors took fresh positions. With year-end affect now over activity has also increased as evident by rising volumes of more than Rs.10b. PTCL and Engro Corporation remained in the limelight and closed at upper limit. While renewed interest was also witnessed in selected cement companies, dealers observed.
The day turnover of stock market in terms of shares was 245.275 million after opening at 154.895 million and the value of traded shares was climbed to Rs 10.303 billion from Rs 6.115 billion. The capitalisation of equity market maintained at Rs 5.272 trillion from Rs 5.210 trillion.
Shares of 339 companies were traded on Tuesday wherein 213 companies closed in positive and 102 in negative while the value of 24 stocks remained intact. Nestle Pak was the biggest gainer of he day up by Rs 120.95 to Rs 6295 followed by Wyeth Pak Limited increased by Rs 80 to Rs 1680. Bata (Pak) and Mitchells Fruit were the top losers of the day decreased by Rs 89 to Rs 1700 and Rs 08 to Rs 511.
Active list was topped by PTCLA with 25.863 million shares as it closed at Rs 23.26 after opening at Rs 22.17. Fauji Cement was on the second position with 23.450 million shares up by Re 0.19 to Rs 14.26. It was followed by Wateen Telecom Limited with 10.368 million shares extended by Re 0.14 to Rs 4.49, Bank Al-Falah with 10.152 million shares grew by Re 0.25 to Rs 18.80 and Dera Ghazi Khan Cement with 9.407 million shares up by Rs 2.41 to Rs 88.18.