KARACHI - Bullish trend was continued at local stock market on third consecutive and last working day of the week. KSE 100 index closed 48 month high amid higher trades in the pre-budget rally at KSE.

At Karachi stock market benchmark KSE-100 share index gained 192.36 points or 1.33 percent to finish the day at 14,612.28 points as compared to the 14,419.92 points of the last working day.  Index managed to close near days high amid investor interest in stocks across the board on speculations on favourable federal budget announcements for corporate sector and improvement in Pak-US relations, analyst observed.

Rise in local power tariff, expected approvals on proposals for new tariff mechanism in telecom sector, expectations for early resolution of circular debt concerns affected the sentiments despite concerns for security situation in the city and rising political noise in light of Supreme Court decisions.

KSE-Allshare index gained 124.41 points or 1.23 percent to close the day at 10,238.21 points, KSE-30 share index added 177.43 points or 1.41 percent to conclude the trading session at 12,755.54 points while KMI-30 share index extended 298.29 points or 1.20 percent to stop the day at 25,167.03 levels.

Dealer said on account of foreign buying of $13 million in last 3session, index managed to close above 14,600 points level after 4 years. Major activity was once again witnessed in PTC that alone contributed 15pc of traded volume, while other telecommunication companies like Telecard and World Call also remained in the limelight. Volumes also rose to 15-month high to Rs.10 billion.

Stock market traded 335.166 million shares after opening at 293.970 million shares. Activity took place in 394 stocks where gainers outnumbered the loser 182 to 154 while the values of 58 companies not changed. Active list was gained topped by PTCLA with 51.657 million shares added Re 0.92 to close at Rs 15.34. DGK Cement was on the second position with 30.289 million shares gained Re 0.97 to stop at Rs 44.38.

It was followed by Telecard Limited with 22.407 million shares up Re 0.57, JS Co with 20.090 million shares off Re 0.91 to stop at Rs 16.02 and WorldCall Telecom with 16.346 million shares increased Re 0.45 to end at Rs 3.22.

UniLever Pak Ltd and Nestle Pakistan Ltd were the biggest price gainer of the day increased by Rs 335.33 and Rs 104.25 while the top loser were led by the Island Textile and JDW Sugar down Rs 12.34 and Rs 4.48 respectively.