KARACHI - Stocks closed bullish amid higher trades lead by second tier stocks in cement, textile and banking sectors on strong valuations.

At local equity market benchmark KSE-100 share index gained 32.89 points or 0.20 percent to stop the day at 16,270.48 points as compared to 16,237.59 points of the last working day on Friday.

Concerns for rising circular debt in Pakistan energy sector, explosions in the city and uncertainty in global stocks on Europe debt crisis affected sentiments. Strong textile exports, higher local cement prices played a catalyst role in bullish sentiments at KSE

Equity expert Ahsan Mehanti said concerns for rising circular debt in Pakistan energy sector, explosions in the city and uncertainty in global stocks on Europe debt crises affected the sentiments. Strong textile exports, higher local cement prices played a catalyst role in bullish sentiments at KSE.

KSE-Allshare index higher by 37.10 points or 0.32 percent to conclude the session at 11,502.79 points, KSE-30 share index increased by 26.18 points or 0.20 percent to end the day at 13,197.47 points while KMI-30 share index up by 24.26 points or 0.09 percent to finish the day at 28,234.52 points.

Market traded 260.199 million shares after opening 251.522 million shares and the value of traded shares was reduced to Rs 3.688 billion from Rs 3.707 billion. Equity market capitalisation settled at Rs 4.084 trillion as compared to Rs 4.071 trillion of previous trading session.

Trading took place in 386 companies where gainers held a strong lead over the losers 248 to 123 while the value of 15 stocks remained intact. Bata (Pak) XD was biggest price gainer of the day up by Rs 71 to Rs 1491 while the top loser were led by Indus Motor Company down by Rs 10.11 to Rs 261.31.

Summit Bank was the volume leader of the day with 29.371 million shares as it closed at Rs 3.02 to Rs 3.00. Fauji Cement was on the second position with 17.251 million shares up by Re 0.06 to Rs 7.03. It was followed by Maple Leaf Cement with 17.183 million shares amplified by Re 0.97 to Rs 16.44, Pervez Ahmed with 12.022 million shares added Re 0.25 to Rs 3.98 and DGK Cement with 10.093 million shares shed by Re 0.07 t Rs 53.44.