KARACHI - Bullish activity continued at Pakistan Stock Exchange (PSX) on Thursday on investors’ interest in scrips across the board amid speculations on higher global crude prices and upbeat cement, oil and fertilizer sale. Resultantly, the KSE 100-index went up by 531 points and closed at 41,790 points.

The recent global rally finally caught up with Pakistani equities as investors cheered SECP notification of relaxing the minimum 5% cash restriction for asset management companies. Across the board buying was witnessed. SNGP was amongst the volume leaders on anticipation of any decision on commencement on RLNG III pipeline. PPL was up 3% and also remained amongst the top volume leaders on the back of higher oil prices, stated dealer at Topline Securities.

E&P sector led the gains at the local bourse as crude oil edged higher. PPL (up 2.62%) and OGDC (up 1.22%) were the major gainers of the mentioned sector. Auto sector continued its upward trend for third consecutive day where HCAR (up 5%), MTL (1.35%), DFML (4.87%) and PSMC (0.93%) gained to close positive, said dealer at JS Global.

Healthy trading activity was witnessed throughout the day across the board and investors were seen taking positions in oil & gas, steel, fertilizer and auto sectors. SSGC and SNGP showed investors’ confidence, said AHL Market Data.

Index point leaders were HBL (up 2.7%), ENGRO (3.5%), PPL (2.6%), DAWH (4.5%) & OGDC (1.2%), adding 240 points to the index; while POL (down 1.1%), MCB (0.6%), PAKT (2.8%), PMPK (5%) & BAHL (0.9%), withheld 100 points from the index.

Sector wise, fertilizer added 107 points amid improving sector dynamic whereas commercial banks added 103 points. Tobacco sector however withheld 18 points from the index.

Market volumes improved to 162m from 97m, showing an increase of 66% DoD. Similarly, average traded value increased from USD 54m to USD 97m (up 79.3% DoD).