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Shares stage broad rally

"Deal or no deal between President Musharraf and Benazir Bhutto on power sharing formula, investors seem to have pulled themselves out from the impasse and decided to go along the market fundamentals," said an analyst commenting on the conflicting reports about the Dubai meeting between the two.

A spate of cash dividend and bonus shares announced by more than a dozen companies during the last couple of weeks and rumours of higher payouts by those companies whose board meetings are due during the next couple of weeks did not allow investors to keep to the sidelines and they participated actively in the dealings.

The KSE 100-share index rose by another 104.79 points at 13,738.87 as compared to 13,634.08 a day earlier as leading base shares posted fresh good gains under the lead of National Bank, PTCL, Bank of Punjab and Askari Bank.

The KSE 30-share index was also quoted higher by 130.09 points at 16,618.27 as compared to overnight's 16,488.18.

Plus signs dominated the list under the lead of JS & Co and Unilever Pakistan, up by Rs36.55 and 100.00, while losers were led by Lakson Tobacco and Nestle Pakistan, up Rs19.00 and 20.00 respectively.

Trading volume rose to 266 million shares from the previous 163 million shares as gainers held a strong lead over the losers at 215 to 113, with 42 shares holding on to the last levels.