KARACHI - International crude prices surge led local oil stocks to gain as PSX shares index rallied 187.54 points (0.48 percent) to close at 39663.71 points.

“Positivity prevailed as the index rallied around 187 points to close at 39,663 level,” brokers said.

The bulls today were leading due to the energy and banking sectors. The energy sector rallied around 1.42 percent on the back of recovering global crude oil prices. WTI traded comfortably around $43/barrel.

All major players remained comfortable in the green zone, where top performers of the aforementioned sector today were OGDC (rose 1.35 percent) and POL (up 3.31 percent).

The automobile sector rallied 0.69 percent on the back of depreciating Yen, where biggest index movers of the sector today were HCAR (up 1.11 percent) and INDU (higher 0.59 percent).

“The banking sector continued its rally as HBL and NBP closed up 1.65 percent and increased 1.59 percent, respectively. Overall sentiments in the market remain positive and further bull run is expected,” observed analyst Ahmed Saeed Khan at JS Global.

Today’s traded volumes increased by 11 percent to reach 221 million while the value increased by 45 percent to Rs11.5 billion/$110 million).

KEL was the volume leader with 33mn shares traded, where as HBL gained by 1.7 percent contributing 44 points to the gain in index.

“POL, PPL and OGDC gained between 1.4 percent and 3.5 percent. Interest led SSGC to close at its upper limit of 5 percent where as SNGPL gained by 0.8 percent,” said dealers at Topline brokerage.