KARACHI -  Pakistan Stock Exchange (PSX) ended on a bullish note on Wednesday.

Volatility prevailed in the market as the KSE 100-index gained to make an intra-day high of 158 points and low of 216 points, closing up 30 points at 51,103 points levels, brokers said.

Overall rally was witnessed in the banking sector where big banks boosted the index to close in green as the MSCI-EM rebalancing date approaches.

PPL (up 1.04%) closed in the green as oil in the international market edged up slightly as the Saudi Arabia announced to cut oil supplies to the region in its latest press release. Moreover, profit taking was witnessed in the cement sector. PIOC (down 2.99%), DGKC (1.38%) and LUCK (0.89%) were the major laggards of the aforementioned sector, said analyst at JS Global. Analyst Ahsan Mehanti said stocks closed higher led by second and third tier autos, banking and cement scrips on strong valuations. Foreign inflows, reports of easing rift between civil and military, robust outlook for auto, banking and cement sectors amid MSCI EM status this month played a catalyst role in higher close.

Volumes were lower than previous trading session at 335m as compared to the last trading day at 370m shares. While value also decreased to Rs15b/$142m. Major volume was witnessed in WTL with 55m shares, EPCL 21m shares and DCL with 16m shares respectively. Scrips of 375 companies were traded in the session,.187 closed in green, 172 in red whereas 16 went unchanged.