KARACHI - Pakistan Stock Exchange extended gains to second day Thursday on strong earnings, with the benchmark 10o-share index gaining 121.40 points or 0.38 percent to close at 33,767.59 points.

Investors’ interest was seen in refinery sector as ATRL, NRL and PRL gained to close on their respective upper circuits. This gain can be attributed to NRL result announcement in which the oil refinery posted exuberant earnings of Rs29.43/share for the third quarter and as well as to investors’ anticipation that other refineries will follow NRL’s lead to post promising results for the third quarter. BAHL, up 0.69%, gained on the back of the result announcement in which the company declared its first quarter earnings of Rs2.28/share versus market expectation of Rs1.86/share, stated analyst Arhum Ghous.

Better than expected result for the bank can be attributed to reversal of provisioning expenses by the company of around Rs1.18 billion. PTC (2.68%) gained as the telecom service provider posted its first quarter earnings of Rs0.61/share versus Rs.0.49/share for the same period last year, dealers observed.

Volume increased by 1% to 188m shares while value also rose by 7% to Rs 9.2b/$88.7m. On the reports of political noise reducing after biggest opposition party refused to be part of protest against the ruling party helped the index closed up, brokers said.

Better than expected corporate results of PTCL, BAHL and ACPL helped investors to take fresh positions.