KARACHI, Sept 27: Stocks on Thursday finished with an extended gain under the lead of blue chips but they lacked aggressiveness associated with a bull market as investors played safe apparently ahead of the apex court verdict on the president’s dual office petition possibly tomorrow. The KSE 100-share index added another 58 points to the overnight total at 13,328.13.

Trading, therefore, resumed on a cautious note as investors were not that enthusiastic fearing protests by the lawyers at time of filing of nomination papers including President Musharraf and others for the presidential election.

The KSE 100-share, however, finished with an extended gain of 57.86 points at 13,328.13 as compared to 13,270.28 a day earlier, reflecting the strength of the leading base shares. The KSE 30-share index on the other hand rose by 141.35 points at 16,149.81.

Bulk of the support remained confined to cement, bank and some leading oil shares but Habib Bank failed to add fresh rise to the overnight gain and fell.

The market appears to be in an indecisive frame of mind apparently weighed down by legal battle and could not precisely decide how to behave in the absence of strong institutional support, said a leading analyst Ashraf Zakaria, adding “but it goes to its credit that it is holding fort on the strength of buoyant corporate scenario”.

Investors may not have taken positions with any of the contenders of power but what they are yearning for is the peace and amicable end of the current tussle and battle of wits, analyst Hasnain Asghar Ali said.

The other inhibiting factor was, analysts said, reports of possible apex court verdict on the dual office of the president and its impact on the bourse in both the cases for or against the president, they said.

Adamjee Insurance and Unilever Foods were leading among the gainers up by Rs15.90 and Rs29. Other good gainers were led by United Bank, JS Global, Sapphire Fibres, PSO, Al-Ghazi Tractors, Pakistan Engineering, Atlas Battery, Dawood Hercules, Cherat Papersack, Packages, HinoPak Motors, Zulfiqar Industries and Shezan International, which posted gains ranging from Rs6 to Rs13.70.

Pakistan Services and Wyeth Pakistan topped the losers, off Rs27 and Rs35 followed by Premier Sugar, Pakistan Refinery, Pakistan Resource Co, JS & Co and Lakson Tobacco, off by Rs4.05 to Rs23.

Trading volume showed a modest rise at 189m shares up from the previous 173m shares as gainers held slight edge over the losers at 154 to 150,with 39 shares holding on to the last levels.

Bosicor Pakistan topped the list of actives, up by 75 paisa on expansion news at Rs19.75 on 23m shares followed by Bank Alfalah, steady by 50 paisa at Rs50 on 15m shares and Lucky Cement, higher by Rs1.75 at Rs129 on 9m shares.

D.G. Khan Cement, higher by Rs2.50 at Rs110 also on 9m shares, OGDC, firm by 30 paisa at Rs115.40 on 8m shares, Engro Chemical Pakistan, unchanged at Rs261.50 on 7m shares, Habib Bank, off Rs1.50 at Rs279 on 6m shares.

Others actives were led by TRG Pakistan, up by 40 paisa on 8m shares, Arif Habib Securities, off Rs1.95 on 7m shares and WorldCall Telecom, up by Re1 on 6m shares.

FORWARD COUNTER: Lucky Cement came in for active support on reports of higher exports and was quoted higher by Rs1.60 at Rs1229.30 on 4m shares followed by its September contract, up by Rs1.40 at Rs128.90 on 3m shares and PTCL, firm by 12 paisa at Rs50.75 also on 3m shares.