Pakistan stocks gain 122 points in mixed trading

Pakistan stocks gain 122 points in mixed trading

KARACHI: Pakistan stocks on Friday gained 122 points in mixed trading sessions during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended 41,301 points from previous day’s closing of 41,179 points, showing an increase of 122 points.

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Analysts at Arif Habib Limited said that the week closed off with a mixed session on the last business day.

The market opened in the negative zone continuing the momentum from the previous close however, the market traded both ways but close in the red at the close of the first session.

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The trading session resumed in the green and traded in the same range after much-needed clarity on the political ground giving the investor a sigh of relief throughout the second session.

Volumes recorded in the mainboard were decent as 3rd tier stocks continued to be the volume leaders.

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Sectors contributing to the performance include Technology & Communication (+57.6 points), Miscellaneous (+52.2 points), E&P’s (+32.1 points), Cement (+13.0 points), Fertilizer (+12.3 points).

Volumes decreased from 245.0 million shares to 139.7 million shares (-43.0 per cent DoD). The average traded value also decreased by 45.0 per cent to USD 18.6 million as against USD 33.8 million.

Stocks that contributed significantly to the volumes are BAFL, WTL, DFML, DFSM and HASCOL.

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