KARACHI  - Bullish activity witnessed at PSX amid surge in global equities and crude oil as a result the benchmark shares index on Thursday rose to 32,478.98 points index by gaining 394 points (up 1.23%).

Trade witnessed in selected scrips across the board as investor eye key developments of CPEC projects upbeat for cement, energy and banking scrips,

Strong financial results, Oil & Gas discovery of PPL&OGDC in Nashpa Block, upbeat local cement dispatches data for Jul-Jan’16 and likely release of $500m IMF tranche under extended fund facility played a catalyst role in the bullish activity, observed analyst Ahsan Mehanti.

Today’s traded volume increased by 2% to 151 mn shares, while traded value increased 17% to Rs9.4bn/US$88.6mn.

After the Anticipation of better full year results of banking stocks push investor to take position in MCB,UBL and HBL which up in a range of 0.46-1.75%

International Oil jumped by aprox 10% after news from Russia regarding deal with OPEC. This helped local stocks like OGDC PPL and POL gained 2.5%, 2.76% and 5% respectively, stated dealers at sales desk Topline brokerage.

EFERT and Engro were in lime light as EFERT will announced their full year results in the next week with better than expected dividend, analysts added.

Out of total 348 active companies participated in the session, 227 concluded in advance, and 106 in decline while 15 went unchanged.