KARACHI -  Stocks market continued its positive momentum on Tuesday as the 100-share index, led by oil and auto scrips, gained 192.54 points to close at 42,631.58 points.  E&P sector was yesterday’s major index mover as the sector gained to close 1.71% higher compared with its previous day’s close. This gain was on the back of surge in crude oil prices.

POL (3.64%) was the top performer of the aforementioned sector. PIAA (1.44%) gained on the back of the news that national carrier has decided to structure the entity into four separate businesses namely flight operations, engineering, training and courier service. Company also intends to start its divestiture by spinning off its flight operations segment followed by selling its stake in other business units. Apart from it, company is evaluating orders for different aircraft to add to its fleet operations moving forward. BWCL gained to close on its upper circuit for the second consecutive day, as the company declared its financial result for year ended FY16 and 1QFY17, which was accompanied by hefty dividends in both the announcements, stated analyst Nabeel Haroon.

Overall, volumes increased by 34.5% to 467m shares, while value rose by 75% to Rs16.3b/$156m.

Oil marketing companies continued to interest investors as HASCOL, BYCO gained 5% each, while SSGC and SNGPL gained 3.8% and 5% respectively. PACE led the volumes with 45m shares traded.

Likely announcement of PM’s Rs75b package to boost textile & cement exports and subdued political noise played a catalyst role in positive close amid consolidation in the post-earnings season at PSX, dealers said.