KARACHI - Stocks closed bullish in the earnings announcement session at KSE on positive political outlook after government and opposition joined hands to push National Assembly for interim setup and restoration of law makers.

At local bourse KSE-100 share index increased 49.19 points or 0.40 percent to finish the day at 12,311.04 points as compared to the 12,261.85 points of the previous session. In hope that CGT resolution is making gradual progress investors preferred to take fresh positions. Rising international equity markets and crude oil also supported the market sentiments. Mid capped stocks like JSCL, ANL, and BOP remained the volume leaders, Samar Iqbal equity dealer at Topline Securities observed.

KSE-Allshare share index added 40.09 points or 0.47 percent to closet the day at 8565.37 points, KSE-30 share index gained 22.11 points or 0.19 percent to stop the day at 11489.13 points while KMI-30 share index improved 60.40 points or 0.28 percent to conclude the day 22014.84 levels.

Trade remained higher amid cautious activity ahead of Supreme Court announcements against PM Gilani NRO implementation verdict, said stock analyst Ahsan Mehanti in his analysis. Investor support on strong valuations in banks, fertilizer and oil stocks played a catalyst role in bullish sentiments amid speculations ahead of major earnings announcements due this week, he added.

Trading took place in 346 companies where gainer out number the loser 173 to 89 while values of 84 stocks remain intact. Market traded 172.080m shares after opening at 148.203m shares.  Active list headed by Jahangir Siddiqi Company with 29.615 million share as it closed at Rs 9.27 after opening at Rs 8.52 followed by Azgard Nine, BOP, Fatima Fertilizer Company and Arif Habib Company with turnover of 14.584 million, 10.114m, 9.529 million and 9.399m shares respectively.

Highest price gainers of the day were led by Rafhan Maize Product and Wyeth Pak Limited up by Rs 112.90 and Rs 35.25 while the top loser were led by UniLever Pak Ltd and Indus Dyeing down by Rs 164.20 and Rs 6.10 respectively.