KARACHI - Bullish activity continued at local bourse in the pre-budget rally in stocks across the board with a record close on strong valuations.

At local bourse benchmark KSE-100 share index gained 277.40 points or 1.96 percent to conclude the trading session at 14,419.92 points as compared to the 14,142.52 points of the previous session.

Aggressive foreign buying of $8 million yesterday triggered across the board rally at local market. Major volume was witnessed in mid cap stocks with PTCL followed by LOTPTA and DGKC remaining in the limelight. In addition heavy weight OGDC also gained Rs 3 amid news flows regarding improved pricing of one of its major fields, said Samar Iqbal equity dealer at KSE.

KSE-Allshare index added 188.09 points or 1.89 percent to close the day at 10,113.80 points, KSE-30 share index extended 211.79 points or 1.71 percent to stop the day at 12,578.11 points while the KMI-30 share index increased 437.04 points or 1.79 percent to finish the day at 24,868.74 points.

Analyst observed that rise in local power tariff, higher global commodities and Investors speculation ahead of revised CGT announcements in finance bill due next month amid renewed foreign interest in oil and banking stocks played a catalyst role in bullish sentiments at KSE post earnings announcements despite concerns for pending circular debt issues and rising political noise.

Stock market traded 293.970 million shares after opening at 246.394 million shares. Trading took place in 389 companies where gainers beat the loser with strong lead 247 to 90 while the values of 52 stocks remain intact.

Active list was topped by PTCLA with 26.417 million shares gained Re 0.9 to close at Rs 14.42. Lotte PakPTA was on the second position with 22.764 million shares added Re 0.78 to finish at Rs 9.32. it was followed by DK Cement, JS Co, Fatima Fert.CoXD, JS Investments Ltd, Arif Habib CoSPOTSD, KESC, Bank AlFalah and Azgard Nine with turn over of 15.901 million, 13.673 million, 13.049 million, 12.105 million, 11.956 million, 10.705 million, 10.428 million and 9.037 million shares respectively.

UniLever Pak Ltd and Unilever Food were the highest price gainer of the day increased by Rs 306.67 and Rs 129.14 while the top loser were led by Island Textile and Ismail Industry decreased by Rs 5.49 and Rs 4.35 in that order.