LAHORE - The KSE 100-index of Pakistan Stock Exchange closed in the green for the second consecutive session, gaining 202 points ( or +0.51 percent) to close at 39,614 points.

Positive sentiments were driven by the possibility of an offshore hydrocarbon discovery in the joint venture (JV) formed by ENI, ExxonMobil, Oil and Gas Development Company (OGDC), and Pakistan Petroleum (PPL) to spud the Kekra-1 exploration well in Indus G block.

Consequently PPL (+4.9 percent) and OGDC (+3 percent) dominated investors interest as they generated 11m in shares traded, cumulatively. The E&P sector added 162 points to the index.

Furthermore, upon the news that the Economic Coordination Committee (ECC) approved the withdrawal of customs duty, additional customs duty and sales tax on the import of cotton, investors flocked towards textile scrips such as NCL (+3.5 percent). Investor participation improved as traded volumes rose by 6 percent to 122m and traded value rose by 28 percent to US$51mn.