KARACHI - KSE closed all time high led by selected blue chip stocks across the board on strong earnings outlook.

The Karachi stock market benchmark KSE-100-share index posted a fresh gain of 186.01 points or 1.04 percent to finish the day at 18,080.91 points compared to 17,894.90 points of previous day.

KSE-Allshare index added 100.57 points or 0.80 percent to close the day at 12,692.27 points, KSE-30 share index grew by 185.50 points or 1.27 percent to stop the day at 14,833.15 points while KMI-30 share index improved by 364.05 points or 1.17 percent to finish the session at 31,388.20 points.

Analyst Ahsan Mehanti said trade remained higher led by second and third tier stocks after ECC approval for Rs49b guarantees to PIA. Timely repayments of loan to IMF, expected hike in OMC margins, MOF release of Rs.15b to PSO easing circular debt concerns in energy sector/ Strong textile sector exports data and hopes for OGDC gas sales agreement with fertilizer companies played a catalyst role in bullish sentiments at KSE despite concerns for dismal fertilizer offtake data for Jan ‘13.

During the session, bourse traded 269.537 million shares after opening at 312.851 million shares and the value of traded shares minimised to Rs 7.277 billion from Rs 8.880 billion. The capitalisation of equity market settled at Rs 4.494 trillion compared to Rs 4.459 trillion of a day earlier.

Samar Iqbal said market recovered by 1pc after falling for last two trading sessions. Hub Power company closed at its upper limit after announcing handsome payout for its December quarter. While renewed interest in Engro and oil stocks also supported the index.

Trading took place in 374 companies where gainers beat the losers 197 to 153 while the value of 24 stocks remained intact. Nestle Pakistan Limited was the biggest loser of the day down by Rs 131.82 to Rs 5000 followed by Unilever Pak decreased by Rs 50 to Rs 10800. Mithchells Fruit XDXB and Sunrays Textile were the top gainers of the day up by Rs 13.40 to Rs 326.90 and Rs 9.70 to Rs 204.70.

Lafarge Pakistan was the volume leader of the day with 28.266 million shares as it closed at Rs 5.83 after opening at Rs 5.35.

Telecard Limited was on the second position with 25.428 million shares of by Re 0.02 to Rs 7.40. It was followed by PIAC(A) with 15.366 million shares higher by Rs 1 to Rs 5.32, Maple Leaf Cement with 14.232 million shares shed by Re 0.06 to Rs 18.28 and Engro Corporation with 13.237 million shares increased by Rs 5.31 to Rs 116.90.