KARACHI The Karachi stock market witnessed bullish activity on Monday amid strong valuations in the scrips of the fertilizer companies across the board. The upward movement in the KSE 100-share index was attributed to a 23 per cent hike in the prices of urea by fertilizer companies owing to continued gas curtailment. Besides, a record increase in the international oil prices and hopes for early launch of leverage products in consequence of SECPs new chairman appointment triggered the investors sentiments positively throughout the trading session on the said day. According to market trading activity, the KSE 100-index closed at 11,909.73, up 51.56 points or 0.43 per cent from the previous level of 11,858.17. On Monday, volumes kept low at 85.16 million shares versus 87.01 million shares traded previously. Total ready market value stood at Rs4.02 billion or $46.82 million while KSE market capitalization was recorded at Rs3, 238.57 billion or $37.72 billion, respectively on the reported day. The KSE 30-index closed at 11,463.27 level, showing increase of 71.40 points or 0.63 per cent from the last closing. The daily trading activity at market depicted that KSE future volume shares amounted to 2.91m or Rs262.88 million while KSE future spread came at 5.21 per cent. Te top 5 stock pick were: D.G Khan Cement, Fauji Fertilizer Bin Qasim, Lotte Pakistan PTA and Fatima Fertilizer, and Arif Habib Limited. The shares of D.G Khan Cement Bank opened at Rs29.94 and closed at Rs30.27 with highest rate of Rs30.61 and lower at Rs29.91, showing a turnover of Rs6.377 million, followed by Fauji Fertilizer Bin Qasim whose shares opened at Rs36.45 and closed at Rs37.31, translating into earnings of Rs6.285 million. Moreover, the shares of Lotte Pakistan PTA earned Rs5.481 million at the opening rate of Rs13.50 during trading at stock market on the said day. According to the market expert, the early strength and celebration faced a pause, thus disallowing the index from entering the psychological 12000, although level might not be far away, with rising trend in international oil prices persisting, minimal volume strength in index heavy weight, might allow the bench mark to attain the number by year-end, however local sentiment will stay nervous mainly due to economic and financial issues, those include high circular debt, rising inflation and high government borrowings, thus making an ideal case for the authorities to increase the benchmark interest rates, if the conservative strategies are to continue. Despite all the activities the local bourse will continue to stay dependant on the activity by local financial groups, holding companies and off-shore participants, in the absence of ready board leverage product, thus keeping the trading horizon restricted.