KARACHI: Pakistan stocks gained 183 points on Thursday owing to appreciation in rupee value and rumors of tax incentives in the upcoming budget.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,736 points from previous day’s closing of 41,553 points, showing an increase of 183 points.
READ MORE: Stocks remain volatile on expected harsh measures
Analysts at Arif Habib Limited said
The PSX remained positive throughout the day due to strengthening of Pak Rupee against US Dollar and accumulation of value stocks.
Pharmaceutical and Technology sectors remained in the limelight due to rumors of tax relief in the upcoming budget. Mainboard activity gained momentum while hefty volumes were observed in the 3rd tier stocks.
READ MORE: Pakistan stocks end flat as investors eyeing budget
Sectors contributing to the performance include E&P’s (+44.5 points), Technology (+32.3 points), Power (+29.9 points), Pharmaceuticals (+29.2 points) and Investment Banks (+23.1 points).
Volumes increased from 151.1 million shares to 235.34 million shares (+55.7 percent DoD). Average traded value also increased by 22.0 percent to reach US$ 27.3 million as against US$ 22.4 million.
READ MORE: Pakistan stocks gain 262 points in mixed trading
Stocks that contributed significantly to the volumes are TPLP, WTL, UNITY, HASCOL and GGL.
