KARACHI - Stock closed higher on renewed foreign interest in selected stocks in oil and banking sectors. Benchmark 100 share index further grew by 71.67 points or 0.25 percent to end day at 28408.03 points compared to 28336.36 points of the previous day.  Local bourse gained 5pc on WoW basis amid heavy foreign inflows coupled with positive news flow on macro level. Increased investors interest was evident as volumes jumped by 90pc to weekly avg of 292m shares (In Rupee terms Rs.11b rose by 48pc). Most importantly, healthy net foreign inflows of $30m (Mar 31 till Apr 03) were recorded compared to $29m from Jan to Mar 28, dealers observed.

KSE-Allshare index added 43.06 points or 0.20 percent to finish the day at 21223.18 points, KSE-30 index off by 29.49 points or 0.15 percent to close the day at 20030.28 points while KMI-30 index misplaced 25.25 points or 0.05 percent to conclude the session at 46569.72 points.

Manager equity sales at Topline Samar Iqbal said after increasing over 1200 points in last 4 trading sessions, market remained ranged bound thoughout the day as investors preferred to book profit. However, index gained 71 points on close with the support of PSO and MCB. Cement stocks remained under pressure after news of expansions plans of DGKC. LUCK, which has been outperforming market in last few sessions, fell by 2pc, DGKC declined 2.7pc whereas MLCF dropped by 3pc.

Bourse traded 402.954 million shares after opening at 449.071 million shares and the value of traded shares was reduced to Rs 11.446 billion from Rs 14.219 billion. The capitalisation of the market maintained at Rs 6.840 trillion compared to Rs 6.831 trillion of a day earlier.

Trading took place in 373 companies where losers out numbered the gainers 177 to 171 while the value of 25 stocks remain intact. Rafhan Maize XD was the price loser of the day decreased by Rs 375 to Rs 8225 and Pak Tobacco was the biggest price gainer of the day up by Rs 47.65 to Rs 1466.65.

Analyst Ahsan Mehanti said trade remained high dominated by MSCI decision on Frontier Market Index for Pakistan’s weight raise to 8.9pc. Expectations for early announcements on 3G licence auctions, OGDC gas discovery in Ghotki, easing circular debt concerns following NEPRA tariff raise by 70pc in Karachi, rupee stability, Lafarge cement announcement for divestment evaluation and speculations ahead of quarter end earning announcements due next week played a catalyst role in bullish sentiments at KSE. Active list was topped by Lafarge Pak with 73.378 million shares up by Re 0.67 to Rs 12.86. It was followed by Bank of Punjab with 45.536 million shares grew by Re 0.49 to Rs 11.25, K-Electric Ltd with 30.094 million shares up by Re 0.08 to Rs 6.88, Lotte Chemical with 23.034 million shares off by Re 0.44 to Rs 7.92 and TRG Pakistan Ltd with 18.984 million shares shed by Re 0.70 to Rs 14.11.