The Pakistan Stock Exchange ended nearly flat for the second consecutive day, with the benchmark KSE-100 index gaining only 18 points, or 0.04 per cent, by the close of trading session to reach 50,163.

The index tested the day's high at 50,349 points soon after trading opened. The day's low of 49,969 came towards market close.

Trading activity was led by the chemical sector, with 29.2 million shares traded during the session.

"Moody report on credit, B3+ stable reassertion, and fiscal deficit commitments by the government in the federal budget played a catalyst role in the positive close," said senior analyst Ahsan Mehanti.

"Stocks closed higher amid thin trade as investors weigh oil stocks after rebound in global crude prices," he said.

He added that auto, steel and cement stocks outperformed on the likely impact of the Orange Cab Scheme in the Punjab budget, was well as development commitments in provincial budgets.

"Concerns for foreign outflows invited intraday pressure," said Mehanti.

A total of 59.7 million shares of KSE-100 index companies changed hands in the session, with a total worth of nearly Rs7.6 billion.

Stocks of 373 companies were traded, of which 189 gained in value, 166 declined and 18 remained unchanged.

Volumes were led by:

Dewan Farooque Sp: 23.2m shares traded [-9.86pc];

Engro Polymer: 21.2m shares traded [+4.98pc];

Power Cement(R): 19.6m shares traded [-13.51pc];

Azgard Nine: 15.3m shares traded [+6.06pc];

Bank of Punjab: 13.7m shares traded [-11.03pc];