KARACHI  - Pakistan stocks closed higher amid higher trade after positive IMF performance review before release of next tranche under Extended Fund Facility and renewed hopes for economic recovery.

At local equity market benchmark KSE-100 share index marginally up by 13.93 points or 0.06 percent to stop the days trading at 23381.08 points compared to 23367.15 point of the last working day on Friday.

Stock analyst at Arif Habib, Ahsan Mehanti said activity was led by selected oil, banking and textile stocks on strong valuations. EU approval on GSP Plus status on textile products, expectations for hike in SBP policy rate in announcement due this week and renewed hopes for resolution for circular debt issues in energy sector impacted the sentiments. Pressure witnessed later in the session amid concerns for call by political leaders on blockage of NATO supply routes despite PM refusal to take tough position against US.

KSE-Allshare index up by 10.98 points or 0.06 percent to finish the day at 16961.67 points, KSE-30 share index shed by 14.05 points or 0.08 percent to end the day at 17831.05 points while KMI-30 share index lost 4.71 points or 0.01 percent to finish the trading at 39385.22 points.

The day turn over of stock market in terms of shares was 205.244 million after opening at 137.906 million shares and the value of traded shares was climbed to Rs 7.205 billion from Rs 4.883 billion. Capitalisation of the market maintained at Rs 5.533 trillion as compared to Rs 5.531 trillion of the previous session.

Trading took place in 310 companies where gainers outnumbered the losers 172 to 109 while the value of 29 stocks remained intact. Nestle Pak.XD was the biggest loser of the day decreased by Rs 350 to Rs 7000 while Rafhan MaizeXD was the biggest price gainer of the day up by Rs 240 to Rs 5490.

JS Sidiqqi Company was the top traded company of the day with 34.015 million shares as it closed at Rs 9.80 after opening at Rs 9.23.  Bank of Punjab was on the second position with 18.423 million shares up by Re 0.14 to Rs 10.55. It was followed by PIAC(A) with 13.838 million shares off by Re 0.49 to Rs 7.33, Fauji CementXD with 11.834 million shares shed by Re 0.07 to Rs 12.10 and PTCLA with 11.161 million shares extended by Re 0.11 to Rs 27.49.