Stocks Observer. com

Karachi Stocks closed record high led by second and third tier stocks on strong valuations. Sentiments remained bullish ahead of quarter-end earning announcements due next week. The Karachi stock market benchmark KSE-100 share index added 22.59 points or 0.12 percent to end the day at 18,636.03 points compared to 18,613.44 points of the previous day.  Stock analyst Ahsan Mehanti said consolidation in blue chips stocks continued amid concerns for fall in global commodities. Strong data on urea, DAP and cement sales for Mar ‘13, speculations ahead of upcoming SBP policy announcement and expectations of higher LDI revenues for telecom sector played a catalyst role in higher close at KSE amid concerns for rising circular debt issues in energy sector outcome for CCP levy on fertilizer companies on collusion and increasing urea prices. KSE-Allshare index up by 10.56 points or 0.08 percent to end the day at 13,209.70 points, KSE-30 share index increased by 25.38 points or 0.17 perc