OUR STAFF REPORTER KARACHI - Bullish activity was witnessed in shares across the broad on Tuesday amid strong investors interest, after remarkable earnings by the oil and gas exploration sector. The Karachi Stock Exchange (KSE) 100-share index surged 1.32 per cent or 160.16 points to end at 12,326.14 points on market turnover of 68.18 million shares. The KSE 30-share index rose 1.33 per cent to 152.92 points to close at 11,681.83. Shares of 344 companies were traded on Tuesday. At the end of the day, 170 stocks closed higher, 79 declined and 95 remained unchanged. The value of the shares traded during the day was Rs3.66 billion or $42.71 million. The KSE market capitalisation amounted to Rs 3,254.83 billion or $37.97 billion. Pak Oilfields Limited posted impressive performance during the day as the companys shares gained Rs359.75 and closed at Rs358.87. Silk Bank Limited was the volume leader with 10.158 million shares, 0 close at Rs2.98 followed by Engro Pakistan with 6.86 million shares, gaining Rs168.90 to close at Rs167.94 and Lotte Pakistan PTA with 3.93 million shares, gaining Rs14.63 to close at Rs14.52. Recovery in global commodity and capital markets, renewed foreign and institutional interest in commodity stocks, higher local urea prices, and expected rise in OMC margins and strong valuations in oil and gas sector played a catalyst role in bullish sentiment at KSE, said Ahsan Mehanti, Director at Arif Habib Investments Limited. Hefty short covering in oil and gas exploration stocks, and placements of proceeds from Engro towards other dividend yielders in fertilizer sector, along with low volume influx in ill-liquid stock allowed the benchmark to register substantial gains. However, despite being the volume leader Engro failed to stage recovery, due on grounds of technical short covering, below expectation announcement by PPL, invited volumetric sell-off thus forcing the stock to wipe off early gains and enter the red zone while air pocket opening in various front line speculative stocks, kept the active participants in search of dips, said Hasnain Asghar Ali, a senior analyst at Aziz Fida Husein & Co.