KARACHI - Led by second and third tier stocks in banking, cement and fertilizer sectors, stocks closed higher on Tuesday.

The benchmark KSE 100-share index went up by 17.87 points or 0.07 per cent to end the day at 27246.97 points as compared to 27229.10 points of the previous day.

Analyst Ahsan Mehanti said PSO board approval for acquisition of Pakistan Refinery to the extent of 4.5% through preemptive right supported oil sector. Higher banking spreads following SBP status quo in policy rate, rising fertilizer off-take and higher local cement prices played a catalyst role in bullish sentiments at KSE despite concerns over outcome of government peace dialogue with TTP.

Relatively low volumes were witnessed at local bourse, climbing to Rs 7.834 billion from Rs 7.577 billion while the turnover of market was 165.802 million shares after opening at 209.743 million shares. Capitalization of the market settled at Rs 6.588 trillion as compared to Rs 6.570 trillion of a day earlier.  Out of 373 companies 154 closed in positive and 194 in positive while the values of 25 stocks remained intact. Nestle Pak was the biggest price gainer of the day, up by Rs 296 to Rs 8996, followed by Pak Tobacco, up by Rs 45.83 to Rs 962.58. Wyeth Pak Limited SPOT and Bata (Pak) led the downhill trend, decreased by Rs 226.86 to Rs 4472.14 and 76.75 to Rs 2901.50.

Active list was topped by Faysal Bank with 19.628 million shares, off by Re 0.04 to Rs 13.20. TRG Pakistan Limited was on the second position with 16.537 million shares, up by Re 0.21 to Rs 14.44. Followed by Engro Foods Limited with 7.251 million shares, gained Rs 2.43 to Rs 116.68, BOP with 5.802 million shares, shed Re 0.13 to Rs 10.57, and Sui South Gas with 5.433 million shares, added Re 0.98 to Rs 28.42.