KARACHI - Stocks closed positive led by oil scrips after crude oil rise over $41/barrel. The benchmark shares index on Friday gained by 122.65 points or 0.37% to close at 33,080.40 points.

As WTI Crude rallied above $40, Oil stocks gained accordingly, POL, PPL and OGDC closing at 2.91%, 4.66% and 2.88% respectively, dealers said. Traded volume increased by 20% to 172mn shares while value stood at Rs8.0b/USD 77m).

Renewed interest was seen in banking stocks with HBL, MCB and BOP closing up at 0.48% 1.78% and 3.09% respectively.

Reports on falling fertilizer off-take and banking spreads weakened the sentiments. Likely approval of auto policy by ECC led mid session interest in auto stocks. Second and third tier scrips outperformed amid speculations ahead of SBP policy rate decisions this month, observed analyst Ahsan Mehanti.

K-Electric emerged as volume leader with 26.4mn shares, followed by B.O. Punjab 11.2mn and Fatima Fert with 9mn shares were in spotlight in the market.

Total 343 active companies participated in the session of which 171 closed in advance, 147 in decline while 25 remained unchanged.