KARACHI - Local equity closed at 45-month high on Friday with institutional interest in scrips across the board on improvement in Pak-US relations as US Secretary met foreign minister.

At Karachi stock exchange, KSE 100-share index increased by 190 points or 1.52 percent to finish the day at 12,706.52 points as compare to 12,515.92 points of previous session.

Stock analyst Samar Iqbal said that FBR will soon accept SECP’s gain tax proposal. Declining leverage as depicted by MTS and Futures open interest also helped KSE-100 index to close above 12,700 marks after the gap of 45-month. Cement stocks remained in limelight due to healthy profitability.

KSE-Allshare index added 127.34 points or 1.46 percent to conclude the day at 8,841.89 points, KSE-30 share index gained 242.89 points or 2.09 percent to end the day at 11,845.14 points while the KMI-30 share index jumped 434.54 points or 1.96 percent to close the day at 22,655.25 level.

Government announcement on Balochistan package, renewed foreign interest, record rise in international oil prices near to $123 and bullish global stocks played a catalyst role in positive sentiments despite concerns for fall in foreign exchange reserves after IMF repaid first tranche, Ahsan Mehanti stock analyst observed.

Trading took place in 350 stocks where gainers held a strong lead over the loser 166 to 88 while the 96 shares holding onto the last level. Market traded 192.346 million shares after opening at 178.045 million shares.

The active list was again topped by JS & Co with volume of 24.801 million shares as it closed at Rs 10.50 after opening at Rs 10.37 followed by DGK Cement, Azgard Nine, BoP and Bank Al-Falah with turn over of 18.431 million, 13.951 million, 11.191 million and 7.947 million shares respectively.

UniLever Pakistan Limited and Nestle PakistanXD were the highest price gainer of the day up by Rs 92.44 and Rs 44.39 while the top loser were led by Dadex EternitXD and Habib Bank Limited down by Rs 2.97 and Rs 2.61 respectively.