KARACHI - Bullish Pakistan Stock Exchange gained another 623.91 points on Thursday to close at 35,941.47 points, near the highest-ever level.The benchmark KSE 100-share index rallied to increase by over 1000 points in 2 days, mainly led by banks and oil stocks. Index is now only 300 points away from its highest ever level, brokers said.

Positivity prevailed for the third consecutive day as the index rallied by around 624 points. Optimism continued on the back of expectation of PSX's inclusion in MSCI emerging markets index.

OGDC, up 4.95%, UBL, 1.28%, and MCB, 3.06%, were the main movers as they are amongst the most likely companies that will be part of the MSCI EM Index if the reclassification happens, observed analyst Ahmed Saeed Khan.

Interest was seen in the oil and gas sector as global crude oil prices recovered. Top performers of the aforementioned sector were MARI, which increased 5.00%, and POL that rose 4.16%.

Cement sector rallied after APCMA released cement dispatch numbers for the month of April that clocked in about 7.8% YoY higher. Star performer of the sector was LUCK (up 4.69%), dealers said. Volume decreased by 10.4% to 251m shares while value also declined by 8.7% to Rs 15.7b/150$m.

HBL gained by 4.3% while LUCK and OGDC closed at their upper limit, contributing 102, 81 and 69 points to the index respectively. Heavy activity was observed in ENGRO and MCB while gaining between 1.8%-3.7%, market analysts added.