KARACHI - Stocks closed higher on strong earnings outlook with investor interest in oversold fertilizer and banking stocks ahead of major corporate earnings announcements due next week.

KSE-100 share index marginally gained 7.01 points or 0.05 percent to finish the day at 13,936.48 points as compared to 13,929.47 points of the last working day.  Market once again failed to close above 14,000 psychological level as investors remained cautious regarding new developments on gain tax, said Samar Iqbal an equity dealer at KSE.

Selling pressure was witnessed particularly in the oil stocks with index heavy weight OGDC closing Rs.2.4 down. On the volume front EPCL led the way after March result announcement, she added. 

KSE-Allshare index added 2.44 points to stop the day at 9,797.35 points, KSE-30 share index increased 43.27 points to conclude the trading session at 12,223.05 points while the KMI-30 share index improved 57.69 points to finish the day at 24,118.81 points.

Analyst observed that bullish global stocks and higher global commodities played a catalyst role in positive close despite concerns for delay in implementation of revised CGT regime, rising political noise and worsening security situation in the city.

Equity market traded 244,205 million shares after opening at 307,931 million shares. Trading took place in 345 companies where loser managed lead over the loser 151 to 127 while the values of 67 stocks remain intact.

Engro Polymer was on the top position in active list with 27,867 million shares as it closes at Rs 13.09 after opening at Rs 12.82 increased by Re 0.27. It was followed by PTCLA up Re 0.65 at Rs 13.92 with 22,743 million shares, JS Co with 18,563 million shares, Lafarge Pakistan with 14,894 million shares and Fauji Cement with 12,882 million shares.

UniLever Pak Ltd and Bata (Pak) XD were the highest price gainer of the day increased by Rs 41.83 and Rs 29.02 while the top loser were led by the Rafhan MaizeXD and Indus Dyeing down by Rs 127.57 and Rs 19.21.