Senior Equity Dealer, Ismail Iqbal Pvt Ltd, Zaheer Ahmed told APP that the decision of government to clear circular debt caused the positive sentiments in th local markets.

He said that due to this, the bullish rally was led by the scrips of power and oil sectors.

He said that the declining yield on Pakistan Investment Bonds (PIBs) bodes well for local stocks.

Stock Analyst, First National Equity Pvt Ltd, M.M Hassan said that the news of cut on interest rate of National Savings was very supportive for the local market

He said that the major buying by institutions was witnessed in fertilizer, and oil sectors.

Total shares traded were 213,400, which was down by 128,623 as against trading of a day earlier.

Out of 130 total companies, the price of 92 was increased while the price of 38 decreased.

The price of top gainer Unilever Pakistan was increased by Rs. 124.08 while the price of top loser Fazal Textile decreased by Rs. 13.97.

Bank of Punjab (BOP), PTCL and Arif Habib Securities remained volume leaders on Friday, with volume of 50,000, 40,000 and 30,000 shares respectively.

Copyright APP (Associated Press of Pakistan), 2011