The KSE-100 index surged by 155.64 points or 0.39 percent to close at 40,057.85 points. Trading activity also improved as daily volumes on the ready counter increased to 178.989 million shares as compared to 136.802 million shares traded Tuesday.
Foreign investors also remained net buyers of shares worth $5.3 million. The market capitalization increased by Rs 28 billion to Rs 8.043 trillion. Out of total 365 active scrips, 210 closed in positive, 127 in negative while the value of 28 stocks remained unchanged.
K-Electric was the volume leader with 14.980 million shares. However, it closed at Rs 6.62, down Rs 0.01 followed by Bank of Punjab that gained Re 0.12 to close at Rs 13.18 with 13.759 million shares.
Indus Motor Co and Millat Tractors were the top gainers with Rs 35.92 and Rs 20.67, respectively to close at Rs 1,269.42 and Rs 790.45. Unilever Foods and Sanofi-Aventis were the top losers with Rs 90.00 and Rs 24.49, respectively to close at Rs 7,010.00 and Rs 825.51.
BR Commercial Banks Index surged by 58.39 points or 0.69 percent to close at 8,575.83 points with total turnover of 29.454 million shares.
BR Cement Index lost 3.67 points or 0.09 percent to close at 4,099.96 points with 10.002 million shares.
BR Oil and Gas Index gained 13.4 points or 0.27 percent to close at 4,939.99 points with 11.170 million shares.
BR Tech. & Comm. Index inched up by 6.41 points or 0.62 percent to close at 1,039.03 points with 16.215 million shares.
BR Power Generation and Distribution Index closed at 6,369.54 points, up 18.07 points or 0.28 percent with 16.469 million shares.
Ahsan Mehanti at Arif Habib Corporation said that the stocks closed higher amid higher trades led by autos, oil and banking scrips on speculations ahead of mini budget and UAE agreement over $3.0 billion Pakistan bailout package. He said upbeat economic data on trade deficit, home remittances, external account and expectations for capital market tax reforms in the upcoming mini budget played a catalyst role in bullish close.