KARACHI - Stocks closed higher amid thin trade on cautious activity in the corporate earnings announcement session after Senate approves resolution affirming supremacy of constitution and parliament.

The KSE 100-index marginally up 6.50 points or 0.02 percent to end the trading at 28871.75 points compared to 28865.25 points of the previous day.

Ahsan Mehanti analyst at Arif Habib Corp said pressure on rupee, falling FX reserves and SBP concerns on political turmoil negatively impacted the sentiments.

Strong earning announcements and expected ease in circular debt following tariff rationalisation measures for release of $550m IMF ranche next month played a catalyst role in bullish activity.

KSE-Allshare index increased by 30.88 points or 0.15 percent to end the trading at 21118.33 points, KSE-30 index slightly fell by 1.87 points or 0.01 percent to stop the day at 20137.30 points while KMI-30 index added 30.64 points or 0.07 percent to stop the session at 47044.24 points.

Trading took place in 318 companies where gainers beat the losers 152 to 139 while the value of 27 stocks remained intact. Rafhan Maize SPOT and Nestle Pak were the top price gainers of the day up by Rs 250.50 to Rs 10975.50 and Rs 220 to Rs 7500. Shezan Inter and Service Ind. Ltd were the to price losers of the day decreased by Rs 38.70 to Rs 906.30 and Rs 26.23 to Rs 602.88.

The day turnover of market in term of shares was 68.009 million compared to 151.802 million shares of a day earlier and the value of traded shares decreased to Rs 3.751 billion from Rs 8.238 billion. Capitalisation of the market maintained at Rs 6.760 trillion after opening at Rs 6.750 trillion of the previous session.

Active list was topped by Pak Elektron Ltd with 11.775 million shares up by Re 0.27 to Rs 29.87. Bank of Punjab was the second highest on volume chart with 5.307 million shares off by Re 0.02 to Rs 8.04. It was followed by Maple Leaf Cement with 3.501 million shares shed Re 0.03 To Rs 27.37, Avanceon Ltd with 2.940 million shares off by Rs 1.52 to Rs 25.46 and Fauji Cement with 2.281 million shares reduced by Re 0.11 to Rs 18.89.