KARACHI - Stocks closed at yet another high lead by banking stocks and selected blue chip stocks amid hopes for cut in SBP policy rate due early next month.

At local equity market benchmark KSE-100 share index increased by 103.05 points or 0.63 percent to stop the day’s trading at 16,527.08 points as compared to 16,424.03 points of the previous day. Market expert Ahsan Mehantoi said expectations for fall in CPI inflation, renewed foreign interest, higher global stocks and commodities played a catalyst role in bullish sentiments at KSE despite concerns for rising circular debt in power sector and falling rupee dollar parity.

KSE-Allshare index up by 66.26 points or 0.57 percent to end the day at 11,693.10 points, KSE-30 share index higher by 80.20 points or 0.60 percent to close the day at 13,381.21 points while KMI-30 share index up by 108.05 points or 0.38 percent to conclude the day at 28,576.20 points.  Local bourse continued to make new highs closing at 16,527 with volumes remained healthy at Rs.6.56b. The main thrust came from Unilever followed by interest in UBL and MCB banks. While profit taking was witnessed in cement stocks which have been increasing for last few sessions, dealers observed.

Bourse traded 255.983 million shares after opening at 312.740 million shares and the value of traded shares was minimised to Rs 6.561 billion from Rs 7.619 billion. Stock capitalisation settled at Rs 4.152 trillion after opening at Rs 4.128 trillion.

Trading took place in 382 companies where loser beat the gainers 182 to 173 while the value of 27 stocks remained intact. Unilever Pak was the heaviest price gainer of the day up by Rs 509.25 to Rs 10694.25 followed by Unilever Food added Rs 210 to Rs 4410. The down hill trend were led by Mithchells Fruit and Exide (Pak) down by Rs 16 to Rs 350 and Rs 15.14 to Rs 314.86.

JS Company was the volume leader of the day with 28.092 million shares as it closed at Rs 16.65 after opening at Rs 15.68. Dera Ghazi Khan Cement was on the second position with 19.389 million shares. It was followed by Fauji Cement with 18.845 million shares lost Re 0.10 to Rs 6.84, Maple Leaf Cement with 18.813 million shares decreased by Re 0.87 to 15.22 and Byco Petroleum with 9.885 million shares up by Re 0.31 to Rs 10.62.