KARACHI - Local equity continued its upward trend on first day of trading week. Stocks closed higher amid trading in narrow range as investors await favourable federal budget announcements for corporate sector.
At Karachi stock market benchmark KSE-100 share index gained 5.69 points or 0.04 percent to stop the day at 14,617.97 points as compared to the 14,612.28 points of the last working day on Friday.  Analyst at KSE observed investor interest in blue chip stocks in fertilizer, cement and telecom and oil sector witnessed amid speculations on favourable federal budget announcements despite major fall in global stocks on future of Euro zone debt crisis after Nicolas Sarkozy defeat in French elections.
Rise in local power tariff, expected approvals on proposals for new tariff mechanism in telecom sector, expectations for early resolution of circular debt concerns affected the sentiments despite concerns for security situation in the city and rising political noise in light of Supreme Court decisions, he added. KSE-Allshare index added 7.71 points or 0.08 percent to finish the day at 10,245.92 points, KSE-30 share index extended 7.25 points or 0.06 percent to conclude the day at 12,762.79 points while KMI-30 share index up 54.28 points or 0.22 percent to conclude the trading session at 25,221.31 levels.
Due to sell off in international stock markets investors in Pakistan equity market also preferred to book some profits. The foreign flow that was seen last week may not continue if regional markets remain under pressure. DGKC closed at upper limit with 20 million shares being traded as investors hope that company margins will further increase due to decline in international crude and coal prices, said an equity dealer at local bourse.
Stock market traded 254.414 million shares after opening at 335.166 million shares. Trading took place in 397 companies where 195 close in positive and 140 in negative while the values of 62 stocks remain intact.
PTCLA was the top traded company of the day with 34.556 million shares gained Re 0.78 to close at Rs 16.12. DGK Cement was on the second position with 19.601 million shares added Rs 2.21 to close at Rs 46.59.
It was followed by Telecard Limited with 15.079 million shares shed Re 0.01 to finish at Rs 2.19, JSCo with 14.182 million shares added Re 0.26 cease at Rs 16.28 , Engro Corporation with 11.111 million shares increased Rs 3.6 to close at Rs 108.07, Fauji Cement with 8.003 million shares up Re 0.16 to close at Rs 6.70, Fauji FB with 7.965 million shares amplified Rs 1.78 to lock at Rs 45.93, National Bank Pak with 7.792 million shares off Re 0.27 to close at Rs 48.28, Fatima Fert .CoXD with 7.640 million shares up Re 0.06 to finish at Rs 25.49  and WorldCall Telecom with 7.544 million shares put on Re 0.05 to end at Rs 3.27.
UniLever Pak Ltd and Unilever Food were the heaviest price gainers of the day increased by Rs 352.10 and Rs 135.60 while the top loser were led by Nestle Pakistan Ltd and Island Textile off by Rs 112.81 and Rs 11.27 respectively.