KARACHI - Stocks closed bullish with higher trades after Supreme Court granted Prime Minister time till Sept 18 to resolve the NRO implementation issue. Investors interest witnessed in stocks across the board as global stocks and commodities surge on stimulus hopes, analyst observed here on Monday.

At local equity market benchmark KSE-100 share index gained 132.48 points or 0.88 percent to stop the day’s trading at 15,171.66 points as compared to 15,039.18 points of the last working day on Friday.

Market expert Ahsan Mehanti said strong valuations, Sind High Court decision on restrain on Gas Infrastructure Development Cess above Rs13 for industries played a catalyst role in bullish sentiments in the earning announcement session at KSE.

KSE-Allshare index up by 99.33 points or 0.93 percent to end the day at 10,695.32 points, KSE-30 index increased by 137.14 points or 1.07 percent to finish the day at 12,997.19 points while KMI-30 share index improved by 334.42 points or 1.26 percent to lock the day at 26,792.53 points.

Dealers said augmenting the positive sentiment was the announcement of the new petroleum policy 2012 which bodes well for index heavy weight oil and gas sector, while certain clause also benefits fertilizer sector. Rumours regarding ICH also resurfaced which created positive buying momentum in telecom industry with PTCL closed at its upper circuit breaker and witnessed 33m shares volume.

Market traded 269.258 million shares after opening at 315.106 million shares and the value of traded shares was rose to Rs 5.930 billion from Rs 5.000 billion. Capitalisation of share market was settled at Rs 3.867 trillion as compared to Rs 3.838 trillion of a day earlier.

Trading took place in 337 companies where gainers held a strong lead over the losers 212 to 104 while the values of 21 stocks remained intact. UniLever PakXD and Bata (Pak) Limited were the highest price gainers of the day up by Rs 365.00 to Rs 8850.00 and 43.52 to Rs 914.05. Colgate Palmolive and Indus Dyeing were the biggest losers of the day decreased by Rs 51.67 to Rs 1423.33 and Rs 21.50 to Rs 410.00.

Active list was topped by PTCLA with 33.484 million shares as it closed at Rs 16.29 after opening at 15.29 added Re 1. Lafarge Pakistan was on the second position with 20.302 million shares up by Re 0.26 to close at Rs 5.96. It was followed by Fauji Cement with 17.821 million shares higher by Re 0.26 to conclude the day at Rs 7.06, Dera Ghazi Khan Cement with 17.441 million shares enlarged by Rs 2.23 to lock the day at Rs 51.96 and WorldCall Telecom with 15.200 million shares up by Re 0.47 to finish the day at Rs 3.05.