KARACHI - The KSE indexes witnessed strong recovery on Thursday as bullish rally in global stock markets impacted investor sentiments. The benchmark KSE-100 Index also extended gains to make an intraday high of 1.4pc, to finally close up 1.26pc or 33,961.29 points, with volumes of more than 223 million shares.

Ahsan Mehanti at Arif Habib Corp stated, KSE-100 index spiked 1.25pc at close amid recovery in global oil prices and Finance Ministers remarks for stable economic outlook and integrated Pakistan Stocks Exchange into MSCI Emerging Market status by 2016 played a catalyst role in bullish close.

Major support of the market came from the oil sector, following recovery in international crude oil prices. Major gainers of the sector today were POL rose 4.4pc, ATRL 1.4pc and Hascol up 4.9pc respectively.

Local investors looked keen in the cement sector on ADB’s announcement of new projects. Biggest gainers in the sector today were MLCF appreciate 5pc, CHCC up 3.7pc and DGKC rose 2.3pc.

Positivity prevailed in the auto sector as well where the entire sector traded in the green, commented analyst Ahmed Saeed Khan. Pace (Pak) Ltd emerged as volume leader in market with 15.8m shares, followed by Jah.Sidd.Co with 13.7m shares and K-Electric with 13m shares were in spotlight in the session.

Dealers expect that the positive momentum to continue in the last session of the week, although continuous foreign selling is expected to create a little uneasiness amongst the local investors.