KARACHI - Stock closed bullish with investors’ interest in stock across the board on speculations for rate cut in SBP policy announcement. Expectation for Pak-IMF positive talks for revision in loan repayments, improved economic outlook, expectations for release of $600m US coalition support fund played a catalyst role in bullish sentiments at KSE despite concerns for rising political noise as Supreme Court issues notices against contempt of court, experts observed here on Friday.

The Karachi Stock Exchange (KSE) 100-share index gained 38.51 pts or 0.0.23 percent to close at 16,845.09 points as compared to 16,806.58 points of the previous session. The KSE 30-share index was up by 33.95 points  to close at 13,637.59 points as compared with 13,603.64 points of the previous session.

The market turnover went up by 8.62  percent and traded  129.48 million shares after opening at 119.20 million shares. The overall market capitalisation went down by 0.07 percent  and  traded Rs 4.217 trillion compared to Rs. 4.220 trillion of the previous session.

Gainers beat losers by 174 by 158 while 22 stocks remained unchanged.

“Range bound activity was seen due to uncertainty on the quantum of interest rate cut. Focus however remained towards cement stocks as MLCF witnessed maximum volume, said Samar Iqbal equity dealer at Top Line Sec.

The KMI 30-share index gained 47.73 points to close at 28,873.45 points from its opening at 28,825.72 points. The KSE all-share index closed with a loss of 8.66 points to close at 11,897.31 points as against 11,905.97 points.

Husnein Asghar Ali, Chief Escort Officer Escorts Capital, said caution ahead of Monetary Policy fails to restrict bulls, KSE-100 attains highest closing.

Maple Leaf Cement was the  volume leader in the share market with 21.29 million shares as it closed at Rs 14.92 after opening at Rs 14.12 gaining 80 paisas. Jah. Siddi. Co. traded 8.51 million shares as it closed at Rs 16.98 from its opening at Rs 17.35 shedding 37 paisas. DGK Cement traded 8.22 million shares and closed at Rs 54.40 as compared to its opening at Rs  54.24 gaining 16 paisas. Fauji Cement traded 4.70 million shares as it closed at Rs 6.64 against its opening at Rs 6.55 gaining 09  paisas.