KARACHI  - Pakistan stocks closed higher on strong valuations after TTP announcement of a unilateral ceasefire and government halted air-strikes on militant hideouts.

KSE benchmark 100-share index posted a fresh gain of 70.26 points or 0.27 percent to end the day at 25853.54 points compared to 25783.28 points of the last working day on Friday.

Analysts said global markets fall as worries intensify for Russian military action in Ukraine impacted the sentiments along with dismal earnings and payouts by National Bank.

Rising local cement prices, easing political uncertainty and expectations for favourable CPI data for Feb'14 played a catalyst role in positive close at KSE despite concerns for gas shortfall for fertilizer and textile units. KSE-Allshare index off 5.09 points or 0.03 percent to close the day at 19277.31 points, KSE-30 share index added 35.79 points or 0.19 percent to end the day at 18790.97 points while KMI-30 index gained 209.47 points or 0.49 percent to finish the session at 43096.14 points.

The shares turnover was 241.037 million compared to 234.890 million shares of the previous session and volume further shrink on the first day of trading week to Rs 8.923 billion after opening at Rs 9.838 billion while the capitalisation of the market settled at Rs 6.277 trillion.

Trading took place in 367 companies where gainers beat the losers 193 to 159 while the value of 15 stocks remained intact. Nestle Pak was the biggest  price loser of the decreased by Rs 439.06 to Rs 8847.94 followed by Island Textile down by Rs 57.40 to Rs 1090.60. Rafhan Maize and Siemens Pakistan were the top price gainers of the day up by Rs 199 to Rs 7499 and Rs 57.25 to Rs 1202.25.

Equity dealer Samar Iqbal said market opened on a positive note after news of ceasefire. However, later in the day, Islamabad incident and falling global markets affected the sentiments.

NBP’s (National Bank of Pakistan) unimpressive result towards the end of trading session also brought some pressure as the stock hit 5pc lower limit. With 241m share volume, BOP Rights remained the most active scrip as 29 million shares exchanged hands followed by MLCF  with 22.5 million shares and Japan Power 14 million shares.