KARACHI - Stocks closed bullish led by oil, fertilizer and cement sectors after minor change in SBP policy rate on Sep 13.

At local equity market benchmark KSE-100 share index posted a fresh gain of 324.18 points or 1.39 percent to stop the day at 23611.24 points compared to 23287.06 points of the last working day on Wednesday.

Analyst at Arif Habib, Ahsan Mehati said renewed foreign interest, bullish global stocks and institutional support on expected release of next tranche under IMF Extended Fund Facility played a catalyst role in bullish sentiments after long holidays.

Higher local cement prices, improved fertilizer offtake data and stronger valuations in oil sector after rupee depreciation impacted the sentiments despite some profit-taking in banking sector on lower banking spreads, he added.

KSE-Allshare share index grew by 210.79 points or 1.25 percent to end the day at 17140.42 points, KSE-30 share index up by 256.96 points or 1.46 percent to close the trading at 17904.72 points while KMI-30 share index added 772.94 points or 2 percent to conclude the trading at 39515.43 points.

The day turn over of equity market in term of shares was 167.494 million after opening at 114.057 million shares and the value of traded shares was climbed to Rs 8.480 billion from Rs 5.650 billion. Capitalisation of the market maintained at Rs 5.583 trillion compared to Rs 5.515 trillion of the previous session.

A dealer said goods transporters strike was called off added a positive impact on few sectors specially cements whose exports were affected due to this. News of continued foreign inflows also helped index to recover over 300 points. Engro Corporation touched its upper circuit amid continued buying interest and 11m shares exchanged hands.

Trading took place in 316 companies where gainers held a strong lead over the losers 189 to 94 while the value of 33 stocks remained intact.  Unilever FoodSPOT was the biggest price gainer of the day up by Rs 300 to Rs 6600 followed by Rafhan MaizeXD increased by Rs 251.98 to Rs 5751.98. Downhill trend was led by Wyeth Pak Ltd and Khyber TobaccoXD decreased by Rs 42.79 to Rs 4129.09 and Rs 12.34 to Rs 234.54.

Active list was topped by Fauji CementXD with 26.046 million shares extended by Re 0.16 to Rs 12.36. Engro Corporation was on the second position with 11.183 million shares decreased by Rs 0.97 to Rs 142. It was followed by Bank of Punjab with 9.902 million shares shed by Re 0.04 to Rs 11.54, Lafarge Pak with 7.850 million shares without any change settled at Rs 7.02 and PTCLA with 7.411 million shares up by Re 0.15 to Rs 27.55.