Bullish momentumextended stock-rally at Pakistan Stock Exchange (PSX) on the second trading day of the week, as benchmark kse-100 added 492.36 points by the closing bell to clock at 46,867.95 index level. OnTuesday, the index againwitnessed a choppy session but remained in the green through the day, registering its intraday high at 46,884.53 after gaining 508.94 points. The bullish spell was primarily backed by a recovery in international oil prices, which reached a 13- month high to a Pre-pandemic level of $60/ barrel. Consequently, the Exploration & Production sector remained in limelight today. Market sentiments were also buoyed by impressive corporate results announcement which also lifted cement and banking scrips. One of the major corporate events for today was the announcement of financial results by Interloop Limited, wherein the company posted more than a twofold increase in net profits after tax from Rs 1.23 billion (EPS: 1.41) to Rs 2.77 billion (EPS: 3.18) during 1HFY21. Alongside, financial results, the company announced a cash dividend of Rs 1.50/share for the year ended June 30, 2021. Investor were also elated after Federal Board of Revenue’s (FBR)data reveled that it has surpassed the 7 month FY21 tax collection target by Rs 20 billion after collecting Rs 2.57 trillion revenue. The inflow of Remittances by overseas Pakistanis remained above $2 billion for the 8th straight month. Investors also reacted to Pakistan’s foreign Office statement which revealed that country had made substantive progress on the remaining items of the Financial Action Task Force’s (FATF) Action Plan, which lifted hopes of Pakistan’s exclusion from the financial watchdog’s grey list. Investors are expected to further extend the rally in the upcoming session, as positive announcement from the International Monetary Fund (IMF) is expected to buck up the market sentiments. IMF team, led by Ernesto Ramirez Rigo, concluded virtual discussions with the Pakistani authorities and reached a staff-level agreement on the second to fifth reviews of the authorities’ reform programme supported by the IMF’s 39-month Extended Fund Facility (EFF) arrangement for the amount of SDR 4,268 million (about $6 billion). “This agreement is subject to the approval of the IMF’s Executive Board. The reviews’ completion would release around $500 million,” a statement issued by the IMF on Tuesday read. During the session the volume table was led by Hum Network Limited, followed by Telecard limited andMaple Leaf Cement limited. The scrips exchanged 55.45 million, 55.44 million and 36.18 million shares, respectively. The volume at Kse-100 slightly reduced from 249 million shares recorded in the previous session, to 224.79million shares, however, the all-share volume also surged from 486.38 millionshares recorded in the previous session to 514.21 million shares. According to the National Clearing Company of Pakistan Limitedforeign investors remained net sellers of worth $0.72 million worth of equities. However, local investors were the net buyers during the session, as the buying table was led by, Mutual Funds and Brokers, as they mopped up $3.74 million and $0.82 million worth of equities. Sectors that lifted the index were Cement with 158 points, Commercial Banks with 129 points, Fertilizer with 58 points, Technology& Communication with 54 points and Oil & Gas Exploration Companies with 35 points. Among the scrips, the most points added to the index was by Lucky Cement which contributed 116 points followed by HabibBank Limited with 52 points, Muslim Commercial Bank with 46 points, TRG Pakistan Limited with 46 points and ENGRO with 29 points. However, sectors that continued to weigh down the index were Power Generation & Distribution with 5 points, Paper & Board with 3 points, Insurance with 2 points, Glass & Ceramics with 1 points and Sugar & Allied Industries with 1 points. Among the scrips, the most points taken off the index was by Hub Power Company Limited which stripped the index of 10 points followed by Pakistan Oilfields Limited with 9 points, United Bank Limited with 6 points, Bank Al HabibLimited with 6 points and Indus Motor Company Limited with 5 points.