KARACHI - Consolidation was seen at the stock market on Tuesday because of roll over week. The 100-share index gained 73.62 points (up 0.18%) and closed at 40,294 points level.

The automobile sector rallied on the back of depreciating Yen. Top performers of the sector were PSMC (up 5.00%) and INDU (1.34%). Rally was witnessed in the pharmaceutical sector after the chairman Pharma Bureau said that sector is likely to attract huge investments. SEARL (up 1.58%) and SAPL (5%) were the biggest index movers from the sector. IBLHL (up 5.00%) announced its FY16 result clocking in DPS of 10% and EPS of Rs4.24/share.

Marginal positivity was witnessed in the oil sector following the trend of global crude oil prices which went up, stated analyst Ahmed Saeed Khan. Volumes increased by 18% to 573m shares while value also increased by 22% to Rs14.4b/$138m. Above average volume was observed in BOP on the hope of better result as 86m shares were traded while gaining by 6%.

Analyst Ahsan Mehanti said stocks closed higher amid trade led by second and third tier scrips on speculations ahead of quarter-end close. Fertilizer scrips remained in pressure on subdued sales and falling urea prices.

Recovery in global crude prices on likely OPEC support prices, institutional support in blue chip banks, oil and auto scrips played a catalyst role in the bullish close at PSX.

NML announced consolidated EPS of Rs 17.32 along with cash dividend of Rs 5/share. Stock gained by 1.69%. ICI Pakistan announced through a notice at PSX its intent to partner with Morinaga and Unibrands to set up a manufacturing facility in Pakistan. This led the stock price to close at its upper limit of 5%, said dealers at Topline brokerage.