KARACHI: Bulls at Pakistan stock market remained on the driving seat for the 11th consecutive day on Friday with the benchmark KSE 100 index hitting another record high by gaining by 226.18 points or 0.56 percent to close at 46584.53 level. Bluechips HUBC, PPL and UBL led the index by contributing 124 points to the gain. The day saw volatility and stocks did witness a brief phase of profit-taking during morning session that pulled benchmark KSE100 index in red. Flows in select index names helped recovery with Hub Power emerging as the top contributor after the company shared optimism regarding getting extension in timelines of Financial Close and Implementation Agreement for 1,320MW power plants – a project that the company earlier hinted at scaling back to only one plant of 660MW due to timing issues, said a report by the Elixir Securities. Engro Foods gained 3.3 percent after Offer Manager for FrieslandCampina notified exchange of formal completion of Public Tender Offer where the public surrendered 60 percent shares of tendered shares; reduction in total float was seen as positive trigger and brought excitement in stock. Fertilizers and textiles came under pressure over previous day evening news of government canceling the earlier announced gas prices reduction while select cements continued to correct on reported foreign selling. In another notice, KOHC announced that it has decided to participate in the bidding process for purchase of Dewan cement’s north plant. KOHC gained by 2.6 percent on the back of announcement, said report by the Topline Securities, the brokerage house named as Best Local Brokerage House of Pakistan for 2016 by Asiamoney’s global brokers’ poll. Overall, volumes increased by 1.7 percent to 346 million shares, while value increased by 1% at Rs19.5bn. On Thursday 340 million shares worth Rs19.3bn were traded at the bourse. Pakistan International Bulk Container Terminal led the volumes with 28 million shares followed by Bank of Punjab 19 million, Power Cement 18 million, Engro Polymer 17 million, Faysal Bank 12 million, and K-electric 11 million. Shares of 404 companies were actively traded at the bourse on Friday out of which shares of 204 ended in green, 179 in red, while 21 remained unchanged Market pundits expect volatile trading and technical correction next week as KSE100 index has rallied by over 9 percent in the current run up. Investors will track foreign flows and regional markets along with newsflow on PSX stake sale as the bidding deadline has been extended to early next week.