The share market gained another 67 points Thursday to close at 32,958 points, supported by oil and gas sector. Bulls dominated the day as the benchmark KSE-100 index was seen peaking to the session's high 33,112 points in intraday trade.
Heavyweight oil and gas exploration companies, Topline analysts said, supported the index which, however, was later hit by profit-taking in select scrips.
"PSX closed positive amid bull-run in Asian equities after US Fed statement to postpone hike in interest rate," viewed Ahsan Mehanti of Arif Habib Corp.
The analyst said spike in US crude prices and speculations ahead of State Bank's policy rate announcement, which is due this month, played a catalytic role in the day's positive close.
Stock prices of Oil and Gas Development Company, Pakistan Petroleum and Pakistan Oil Field appreciated by 2 to 3 percent because of what analysts said rallying global oil prices.
US benchmark West Texas Intermediate (WTI) surged 5.7 percent to $39 a barrel.
This, Mehanti said, was despite reports on falling exports and weak fertiliser off-take.
The number of shares traded stood lower at 143 million valuing up to Rs 8.78 billion. Of the 341 issues changed hands, 160 posted gains, 149 lost their worth and that of 32 stayed unchanged.
Foreign investors remained risk-averse to have sold portfolios worth $1.207 million. Byco Petroleum was the most-traded stock with 8.2 million shares.
With the energy scrip ending higher at Rs 18.20, other best performing shares were NIB Bank, K-Electric, TRG Pakistan, SNGPL, Pak Elektron, OGDC, Fauji cement, Dewan Cement and Bank of Punjab. Futures trade rose to 25 million from previous 23 million contracts.
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