KARACHI: Stocks conti-nued to climb for the second day on Tuesday, posting strong gains of 305.31 points (0.90 per cent) to close at 34,398.86.

Local participants took fresh positions on the last day of fiscal year 2014-15.

Traded volume increased 18pc to 347 million shares while value rose 56pc to Rs12.6 billion.

Foreign investors sold $6.63m worth stocks, with major outflows of $5.6m from banking sector and $2.6m from fertilisers.

Cement sector rallied on the back of expected incre­ase in cement bag prices. Maple Leaf Cement, DG Khan Cement, Fauji Cement and Lucky Cement gained 5pc, 1.3pc, 1.2pc and 0.8pc, respectively.

Analyst Ahsan Mehanti at Arif Habib Corp stated that stocks ended bullish amid renewed institutional interest in oil, cement and fertiliser scrips on strong valuations.

IMF release of $506m tranche and falling borrowing rates impacted the sentiments inviting interest in second- and third-tier scrips, ignoring the slump in global stocks and commodities amid Greece debt crises.

Print Friendly, PDF & Email