KARACHI - Led primarily by banking sector stocks, Pakistan Stock Exchange continued its upward march on Thursday. The benchmark KSE-100 index rose 374 points (up 1.2%) to close at 32,146 points level.

Traded volume declined 13% to 139.8m shares and traded value decreased 15% to Rs9.3b/$88.7m.

Interest of institutional investors in banking sector stocks resulted in the scrips increasing in today’s trading. MCB Bank (MCB), Habib Bank (HBL) and United Bank (UBL) increased 1.7-3.0%, dealers said.

Engro Corporation (ENGRO) and Engro Foods (EFOODS) closed at their upper limits (up 5%) after ENGRO notified the exchange that it has received an offer from Friesman Campina International Holding BV to acquire up to 51% of voting shares of EFOODS.

Pull back in global equities, crude prices and falling T-bill yields played a catalyst role in bullish close in leveraged stocks at PSX, observed analyst at Arif Habib Corp.