KARACHI: The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) gained 180 points on Friday amid profit-taking observed on the last trading day of the week.
The index closed at 44,596 points as against last day’s closing of 44,416 points, showing an increase of 180 points.
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Analysts at Arif Habib Limited said that the market continued to remain subdued even after the approval of the mini-budget by the cabinet.
The market opened on a positive note due to a rally in cement stocks as international coal prices dropped for the second consecutive session.
In the second session, profit-taking was witnessed across the board. Activity continued to remain side-ways as the market witnessed hefty volumes in the 3rd tier stocks.
Sectors contributing to the performance include E&P (+73 points), Commercial Banks (+64 points), Fertilizer (+50 points) Cement (+36 points) and Food and Personal Care (+20 points).
Volumes increased from 243.1 million shares to 317.6 million shares (+30.7 per cent DoD). Traded value increased by 4.7 per cent to reach US$ 61.4 million as against US$ 58.6 million.
Stocks that contributed significantly to the volumes include WTL, CNERGY, TRG, PRL and KEL.
