KARACHI - Stocks on Wednesday closed bullish at KSE led by banks, selected blue-chip scrips on investor speculations after record earnings in the earning announcements session.

At local bourse KSE-100 share index increased 59.22 points to close at 12603.67 points as compared to 12544.45 points of the previous session.

Ahsan Mehanti stock analyst observed that trade remained in narrow range ahead of OGDC earning announcement due tomorrow after reports on government decision on IDB borrowings to repay IMF, easing political outlook, higher global commodities and renewed foreign interest in Pakistan bourse.

KSE-Allshare index added 34.31 points or 0.39 percent to finish the day at 8775.40 points, KSE-30 share index gained 15.26 points or 0.13 percent to conclude the day at 11704.88 points while the KMI-30 share index misplaced 62.33 points or 0.28 percent to stop the day at 22367.67 level.

Except for OGDC, most of the stocks saw profit taking after rising by 2pc for last five trading sessions.

BAFL was the most actively traded stocks as investors believed that the upcoming result announcement would be far better than previous year. Cement sector after rallying in last few sessions saw some profit taking, said equity dealer Samar Iqbal.

Market traded 372.371 million shares after opening at 322.473 million shares. Trading took place in 346 companies where loser out numbered the gainers 143 to 128 while the value of 75 stocks remained intact.

The active list topped by Bank Al-Falah with volume of 26.188 million shares as it closed at Rs 13.88 after opening at Rs 13.45 followed by JS & Co, Pace Pak Ltd, BoP and Soneri Bank Limited with turn over of 21.685 million, 18.589 million, 18.066 million and 14.684 million shares respectively.

Wyeth Pak Limited and Mithchells XD were the highest gainer of the day increased by Rs 6.85 and Rs 5.69 while the top loser were led by the UniLiver Pak Limited and Unilever Pak Foods down by Rs 48.80 and Rs 40.00 respectively.