KARACHI - Stocks closed bullish amid strong valuations in the earning announcement session at KSE after strong recovery in global commodities.

At local equity market benchmark KSE-100 share index posted a fresh gain of 80.47 points or 0.54 percent to stop the day’s trading at 15,080.55 points as compared to 15,000.08 points of the last working day on Thursday.

Market analyst Ahsan Mehanti at Arif Habib Corp said renewed foreign interest, higher local POL prices, hopes for revival of gas supply to fertilizer units in the country played a catalyst role in bullish sentiments despite concerns for political backlash on judicial decisions.

KSE-Allshare index added 64.96 points or 0.62 percent to end the session at 10,615.79 points, KSE-30 share index gained 24.96 points or 0.19 percent to close the day at 12,902.88 points while KMI-30 share index enlarged by 176.11 points or 0.67percent to conclude the business at 26,628.13 points.

Dealers said due to peaceful long holidays, increase in international oil prices and global equity markets local bourse rallied. With volumes touched 14-week high cement stocks remained in the limelight. Engro and DAWH closed at their upper limit amid news regarding their request to government for dedicated gas fields.

Market traded 222.195 million shares as compared 96.743 million shares of the previous session and the value of traded shares was climbed to Rs 5.464 billion from 2.538 billion. The share market capitalisation settled at Rs 3.884 trillion after opening at Rs 3.827 trillion.

During the session 310 companies participated in the market activities where gainers held a strong lead over the losers 190 to 98 while the values of 22 stocks remained intact. Bata (Pak) Limited and Siemens Pakistan were the highest price gainers of the day increased by Rs 39.48 to Rs 829.08 and Rs 15.01 to Rs 900.

The top losers of the day were led Colgate Palmolive and Shazan Inter decreased by Rs 56.25 to Rs 1440.00 and Rs 10.20 to Rs 229.80 respectively.

Lafarge Pakistan was volume leader of the day with 39.419 million shares as it closed at Rs 5.70 gained Re 0.33. Karachi Electric Supply Company was on the second position with 24.135 million shares higher by Re 0.94 to end at Rs 6.67.

It was followed by Fauji Cement with 22.298 million shares up by Re 0.35 to close at Rs 6.85, Dera Ghazi Khan Cement with 16.902 million shares rose by Rs 1.15 to finish at Rs 50.47 and Pace (Pak) Limited with 15.009 million shares up by Re 0.98 to lock the day at Rs 2.88.