Karachi  - Stocks closed bullish at KSE led by oil stocks after favourable CPI Inflation data which stood at 7.93pc YoY during Feb’14.

CEO Primus Invest Management Ahmed Ateeq said renewed foreign interest following easing tension on Russian/ Ukraine conflict and existence of genuine buyer played a catalyst role in local market. 

He predicted more growth in the local market upcoming quarter results, underlining the importance to form a National Investor Organisation with objective to impart knowledge among the investors.  KSE benchmark 100-share index grew by 312 points or 1.19 percent to end the ay at 26521.99 points compared to 26209.38 points of the previous day.  KSE-Allshare index up by 210.66 points or 1.08 percent to conclude the session at 19691 points, KSE-30 gained 191.02 points or 1 percent to stop the day at 19292.22 points while KMI-30 index extended by 645.95 points or 1.47 percent to finish the day at 44570.43 points.  Analysts said ADB approval on $3.2 billion allocation for circular debt concerns in Pakistan energy sector boded well for Pakistan State Oil.

Expectations for revival on Government, TTP peace talks following ceasefire and recovery in global stocks played a catalyst role in bullish close at KSE, he added.  Trading took place in 385 companies where gainers outnumbered the losers 213 to 148 while the value of 24 stocks remained intact.  Unilever Foods was the biggest price gainer of the day grew by Rs 400 to Rs 9750 while the Wyeth Pak Ltd was the top price loser of the day decreased by Rs 197.12 to Rs 3745.34.  Investors remained interested in cement stocks while, on the contrary, Maple Leaf closed at 5pc lower limit. BoP also rallied after its rights shares trading finished yesterday. On final book building day, Hascol has so far been subscribed by 8.5 times. MLCF led the volume with 34m shares followed by LPCL with 23mshares and BAFL with 16.6m shares. 

Active list was topped by Maple Leaf Cement with 34.208m shares followed by Lafarge Pak with 22.988m, Bank Al-Falah with 16.644m, NBP with 15.162m and Bank of Punjab with 13.346m shares respectively.