KARACHI -  Stocks witnessed choppy session on Thursday as benchmark shares index rallied 80.61 points to close at 49,062.26 points.

Pressure was witnessed at market opening as the index lost to make an intraday low of 507 points. This strain on market activity was on the back of prevailing political and law & order uncertainty. However, revive in market activity helped the index to close in the green zone, brokers said.

HMB in the banking sector gained to close on its upper circuit as the banking company declared its result for 2016. In its result, the bank posted EPS of Rs5.85 along with a year-end dividend of Rs3/share. OGDC (gains 0.34%), POL (1.64%) and PPL (0.03%) in the E&P sector gained to close in the green zone as crude oil prices rebounded to trade above $54/bbl level. This surge in crude oil prices was on the back of surprise decline in US oil inventory level, stated analyst at JS Global.

Today's major contribution to the index came from ENGRO (rose2.32%), MCB (0.94%) and POL (1.64%). On the flip side, HBL (decline 0.75%), HUBC (1.15%) and FFC (0.43%) weighed down on the index.

Security unrest in Lahore and concerns over regulatory oversight invited mid-session pressure. Record earnings announcements in selected cement, banking and auto stocks supported the index for a positive close, market participants said.

Activity at the PSX slowed 30 percent DoD to 266 million shares, while value fell by 21.2 percent to Rs13 billion/$124 million. KEL (gain 1.04%) was today's volume leader with more than 19 million shares traded.