Pakistan Stock Exchange benchmark KSE-100 index edge higher on Friday and gained 195.90points in a dry trading session , as investor booked profit. Benchmark KSE-100 Index started the session on a negative note, recording its intraday low at 31,377.10 after shedding 460.20 points. However, the index changed direction thereon and touched its intraday high at 32,086.10. It finally settled higher by 0.62% at 32,033.20.Among other indices, the KMI-30 Index accumulated 64.72 points to close at 50,588.97, while the KSE All Share Index gained 47.49 points, closing at 22,695.46. Of the total traded scrips, 168 advanced and 110 declined. Oil stocks were battered throughout the session following a massive dip in global oil prices. Opec producers and allies agreed to cut output by around 10% to counter the slump in demand caused by coronavirus lockdowns ending a month long oil price war. The group said it would cut output in May and June by 10 million barrels to help prop up prices. The cuts will then be eased gradually until April 2022.Opec+, made up of Opec producers and allies including Russia, held talks on Thursday via video conference. However, oil prices tanked after Mexico baulked out of the output cut agreement. Although later Mexico agreed to cut production by 100,000 barrels per day, which is far less than the 400,000 barrels per day other producers had sought on Thursday. Mexican President Andrés Manuel López Obrador said he had discussed the issue with US President Donald Trump and noted that Trump offered to cut US production by 250,000 barrels per day to compensate for Mexico. Meanwhile, cement sector supported the index following government’s relief package for the industry. The cement sector maintained lead the trading volumes with 33.3 million shares changing hands, followed by oil and gas marketing companies with 17.1 million shares and power sector with 12.4 million shares. Overall market volumes shrunk from 205.15 million in the previous session to 126.72 million, with Hascol Petroleum Limited K-Electric Limited leading the volume chart followed by Maple Leaf Cement Factory Limited. The scrips had exchanged 11.94 million, 10.55 million and 10.15 million, respectively. Sectors that kept the KSE-100 Index afloat included banking with 104.85 points, fertiliser with 51.46 points and technology &communication with 23.94 points. Among the companies, Bank AlFalah Limited contributed most to the index, followed by Engro Corporation Limited and MCB Bank Limited. Meanwhile, State Bank of Pakistan (SBP) announced plans to raise over Rs3 triilion from government securities in the next three months.SBP will issue Market Treasury Bills (MTB), Pakistan Investment Bonds (PIB) and Ijara Sukuk (GIS) worth Rs. 3.005 trillion during April – June 2020. According to the auction calendar published by the SBP out of the target amount Rs.2.30 trillion is to be issued in short term T-Bills while Rs. 705 will be issued in longer term PIBs and GIS. The target amount for PIBs is Rs.480 Billion out of which Rs. 330 billion is in fixed Rate PIBs of 3, 5, 10 and 20 years while Rs. 150 billion is for the 10 year floating rate bond. Furthermore, the Government plans to raise Rs. 225 billion through the auction of 5 years variable rate Ijara Sukuk. The last time the government issued floating rate ijara sukuks was in 2015. Amount maturing during April – June 2020 is Rs.2.049 trillion out of which Rs.1.978 trillion is in T-Bills while the remaining Rs. 71 billion are Fixed Rate Gop Ijara Sukuk.