KARACHI - Stocks closed yet again at all-time high led by stocks across the board after EU granted GSP plus status to Pakistan exports which is expected to increase country’s exports by $2b.

At local equity market benchmark KSE-100 share gained 184.70 points or 0.74 percent to end the day at 25256.70 points compared to 25072 points of the previous day.

Analyst at Arif Habib, Ahsan Mehanti said trade remained high after positive trade deficit data which stood at $7.7b during July-Nov ‘13 against $8.2b. Dismal cement sales data during July-Nov’13 impacted sentiments. Expected announcements on 3G licence auctions in telecom sector played a catalyst role in bullish sentiments at KSE.

KSE-All share index added 114.10 points or 0.61 percent to close the day at 18687.22 points, KSE-30 share index grew by 136.41 points or 0.73 percent to finish the day at 18865.68 points while KMI-30 share index added 366.98 points or 0.88 percent to close the day at 42303.03 points.

Trading took place in 388 companies where gainers outnumbered the losers 272 to 97 while the value of 19 stocks remained intact. Rafhan Maize was the biggest price gainer of the day up by Rs 208.90 to Rs 8208.90 followed by Island Textile grew by Rs 46.85 to Rs 995. Colgate Palmolive and Khyber Tobacco were the top losers of the day decreased by Rs 90.47 to Rs 1733.53 and Rs 13.95 to Rs 265.05.

Textile sector remained high on investors’ radar following successful GPS Plus status voting in EU parliament. Moreover, investors’ interest was also seen in fertilizer sector scrips and in FFBL specially, which closed at its upper circuit, equity dealer Zafar Motti observed.

Market traded 339.284 million shares on the last day of trading week compared to the 207.712 million shares of the previous day while the value of traded shares jumped to Rs 12.119 billion from Rs 8.920 billion. Capitalisation of the market maintained at Rs 6.078 trillion after opening at Rs 6.041 trillion of a day earlier.

Active list was topped by Azgard Nine with 23.860 million shares as it closed at Rs 7.81 after opening at Rs 7.65. Bankislami Pakistan was on the second position with 22.864 million shares up by Re 0.55 to Rs 7.75.

It was followed JS Co with 22.058 million shares grew by Rs 0.03 to Rs 9.43, BoP with 18.019 million shares extended by Re 0.50 to Rs 10.85 and Lotte Chemical with 16.869 million shares up by Re 0.49 to Rs 7.79. 

In a weekly review, equity dealer at Topline, Asad Siddiqui said benchmark index gained 1.5pc on week-on-week basis to close at historic high at 25,257, however, average volumes declined by 16pc Rs.8.8b vs Rs10.5b last week.

The key highlights remained Pakistan’s quarterly GDP, which was recorded at 5pc as against 2.9pc in the same period last year, this also compared favourably against average 5-year GDP growth of 2.9pc.