KARACHI - Karachi shares market witnessed another volatile session on Thursday as the bench mark KSE-100 index closed up by 125.98 points or 0.38pc and settled at 33,368.84 points level.

Led by PSO and Engro market recovered gradually increasing by 0.39pc, with lower participation from local investors.  Engro remained on top with volume of Rs808m/ $8m. Price appreciated by 1pc. JSCL December result was slightly lower than market expectations. Share price declined to lower limit with volumes of 15m shares.  SNGP and SSGC gained over 4pc as Oil and Gas Regulatory Authority (OGRA) is going to issue the much-delayed Final Revenue Requirements (FRR) to the gas soon, Samar Iqbal VP at Topline Securities.

Volumes remained lackluster at 177m shares compared to 180m shares traded yesterday. In term of value it also decline to Rs9.09b as compared to Rs11.2b in previous session. Fatima reached its upper circuit today reinstated coverage on the stock with a buy rating highlighting expected growth in its profitability due to debottlenecking of its Ammonia plant and expected monetary easing.

Oil & Gas sector was led by PSO up by 2.5pc due to slight recovery in global oil prices. FEROZ down by 3.5pc remained under pressure following the announcement of cut in Hepatitis C drug Sovaldi prices, stated analyst Muhammad Mobeen at JS Global.

Stocks closed bullish amid recovery led by selected scrips across the board on strong earnings outlook. Recovery in international oil prices, speculations ahead of SBP key policy rate announcements this month and reports on record growth in cement and fertilizer sales in Jan’15 played a catalyst role in bullish sentiments at KSE, said analyst Ahsan Mehanti.

K-Electric Ltd was volume leader in market with 21.35m shares and price per share Rs8.00, followed by Jah.Sidd.Co with 15.15m shares and price per share Rs18.99 and Pak Elektron with 14.05m shares and price per share Rs55.08 were in spotlight in market.