KARACHI – Stocks closed higher, led by selected blue chip stocks across the board on strong valuations. Index remained range-bound amid consolidation after earning announcements.At local equity market, the benchmark KSE 100-share index gained 31.40 points or 0.18 per cent to end the day at 17797.22 points as compared to 17765.82 points of the previous day.  Ahsan Mehanti, analyst at Arif Habib Corp said, “Telecom stocks led the major activity on expectations for improved LDI segment revenue.” Higher global commodities, renewed foreign interest in oil stocks, hopes for easing circular debt concerns after Ministry of Finance released funds for ailing power sector and easing political concerns played a catalyst role in bullish close at KSE. KSE allshare-index went up by 44.06 points or 0.35 per cent to finish the day at 12591.12 points, KSE 30-share index gained 43.60 points or 0.30pc to close the day at 14562.78 points while KMI 30-share index added 108.76 points or 0.35pc to conclude the session at 30889.03 points.  Local bourse continued its rally to close at yet another high at 17,797. PTCL closed at its upper circuit breaker as it continued rallying after its result announcement. 

Disappointed investors booked profit in Engro Corp after its full year announcement without any payout, dealer observed.  Market traded 262.745 million shares after opening at 312.528 million shares and the value of traded shares climbed to Rs 7.063 billion from Rs 6.408 billion. The capitalization of stock market settled at Rs 4.461 trillion compared to Rs 4.445 trillion of a day earlier. Trading took place in 336 companies where losers beat the gainers by 185 to 137 while the value of 14 stocks remained intact. Unilever Pak was the biggest loser of the day, down by Rs 80 to Rs 10300, followed by Indus Dyeing SPOT, decreased by Rs 27.23 to Rs 519.50. Sanofi-Aventis Pak and National Foods were the top gainers of the day, up by Rs 16.68 to Rs 351.25 and Rs 10.33 to Rs 334.38. PTCLA was the top traded company of the day with 28.759 million shares, added Re 0.85 to Rs 21.95. Telecard Limited was on the second position with 19.622 million shares, shed Re 0.11 to Rs 5.49. It was followed by Wateen Telecard Limited with 15.058 million shares, lost Re 0.14 to Rs 3.84, WorlldCall Telecom with 13.975 million shares, misplaced Re 0.20 to Rs 3.55 and Engro Corporation with 11.913 million shares, off by Re 0.84 to Rs 94.44.