LAHORE  -   The benchmark KSE 100-index closed in the green on Thursday due to reports that The Financial Action Task Force (FATF) has expressed a degree of satisfaction over Pakistan’s efforts and action plan to combat money laundering and terror financing under international obligations and indicated certain areas to do more before May this year to get out of the grey list. Resultantly, the index gained 169 points (or +0.43 percent), closing at 39,090 points.

Oil prices jumped, helped by the hopes of easing trade tensions between China and the US, while OPEC-led crude output cuts also provided support. Consequently, the E&P sector lifted the index by 138 points, led by PPL (+3.29 percent), OGDC (+2.39 percent) and POL (+1.9 percent).

Investor participation declined as traded volumes fell by 16 percent to 112m, while traded value decreased by 22 percent to $33m. Pakistan and Saudi Arabia are likely to sign memoranda of understanding for more than $10b Saudi investment in Pakistan this month. Pakistan will also sign similar MoUs with China, the United Arab Emirates and Malaysia over the next two months.