KARACHI - Led by high cap stocks Karachi bourse saw new record high. Big stocks like OGDC, PPL, MCB gained due to active institutions support. Retail investors were seen active in JSCL, MLCF and KESC. Low inflation for the month of November has increased expectation of other policy rate cut to force investors to take new positions, dealers observed here on Tuesday.

At local equity market benchmark KSE-100 share index posted a fresh gain of 112.17 points or 0.68 percent to close the day at 16,650.15 points as compared to 16,537.98 points of the previous day.  Experts said index closed at highest close lead by cement, oil and banking stocks amid speculations for rate cut ahead of SBP policy rate announcement due this month after Nov’12 CPI Inflation stood at MoM record low of 6.93pc. Expectations for release of $400m Coalition Support Funds after improvement in Pak-US ties, higher local cement prices, and ECC suggestions for reduction of Sales Tax, GDS for fertilizer sector and renewed foreign interest in blue chip stocks in oil sector played a catalyst role in bullish sentiments at KSE, they added.

KSE-Allshare index added 101.33 points or 0.87 percent to close the day at 11,744.08 points, KSE-30 share index up by 100.54 points or 0.75 percent to end the day at 13,487.64 points while KMI-30 share index increased by 154.28 points or 0.54 percent to stop the day at 28,617.59 points.

Market traded 193.049 million shares after opening at 195.592 million shares and the value of traded shares was minimised to Rs 4.895 billion from Rs 5.375 billion. Bourse capitalisation closed at Rs 4.170 trillion after opening at Rs 5.134 trillion.

Trading took place in 371 companies where gainers outnumbered the losers 208 to 139 while the value of 24 stocks remained intact. Nestle Pakistan was the biggest price gainer of the day up by Rs 221.15  to Rs 4644.15 followed by Island Textile increased by Rs 41.27 to Rs 1040. Unilever Pak and Bata (Pak) were top losers of the day down by Rs 190.96 to Rs 9805 and Rs 10.33 to Rs 1649.67.

In the top ten scrips JS Co was the volume leader of the day with 23.314 million shares gained by Re 0.91 to Rs 18.47. Maple Leaf Cement was on the second position with 19.676 million shares. It was followed by KESC with 13.979 million shares shed by Re 0.24 to Rs 6.66, Fauji Cement with 9.354 million shares without any change closed at Rs 6.91 and Pak Elektron Limited with 7.963 million shares added Re 0.98 to Rs 9.07.