KARACHI - Stock closed bullish with investors’ interest in banking, fertilizer and oil stocks after unconfirmed reports on release of $700m cost of troops reimbursement by US.

KSE-100 share index increased by 38.51 points or 0.23 percent to end the day at 16,845.09 points as compared to 16,806.58 points of a day earlier. KSE-Allshare index decreased by 8.66 points or 0.07 percent to conclude the session at 11,897.31 points, KSE-30 share index increased by 33.95 points or 0.25 percent to stop the day at 13,637.59 levels while KMI 30-share index rise by 47.73 points or 0.17 percent to close the day at 28,873.45 points. Analysts said shrinkage in trade deficit, expected action of SBP against rupee fall against dollar, higher home remittances, expectations for release of $600m US coalition support fund and rising global stocks played a catalyst role in bullish sentiments at KSE despite concerns for security situation in the country.

Market traded 129.486 million shares after opening at 119.206 million shares and the value of traded shares was curtailed to Rs 4.085 billion from Rs 3.314 billion. Market capitalisation maintained at Rs 4.217 trillion after opening at Rs 4.220 trillion.

Dealers said that National saving rate will soon be reduced, fresh buying was witnessed at Karachi stock exchange. Fertilizer stocks remained under limelight after news of better than expected sales during the month of Dec. Institutional buying was again seen in heavy weight MCB while some profit taking was seen in Hubco.

Trading took place in 354 companies where gainers out numbered the losers 174 to 158 while the value of 22 stocks remained intact. Bata was the biggest price gainer up by Rs 20 to Rs 1490 followed by Unilever Pak increased by Rs 19.52 to Rs 10020 while Nestle Pakistan Ltd and Colgate Pamolive were the top losers of the day down by Rs 199 to Rs 4701 and Rs 73 to Rs 1427.

In the top ten scrips of the day, Maple Leaf Cement was the volume leader of the day with 21.297m shares as it closed at Rs 14.92 after opening at Rs 14.12. It was followed by Jah. Sidd. Co.  with 8.514m, DGK Cement with 8.220m, Fauji Cement with 4.707m, Pak Elektron Ltd with 4.306m, Byco Petroeum with 4.016m, Bank of Punjab with 3.936m, Ghani Gases Ltd with 3.834m, Nishat (Chunian) with 3.536 million and Engro Corporation with 3.134 million shares.