KARACHI: Pakistan stocks gained 304 points on Thursday owing surge in IT exports of the country.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 40,277 points from previous day’s closing of 39,973 points, showing a gain of 304 points.
READ MORE: Pakistan stocks gain 79 points in volatile trading
Analysts at Arif Habib Limited said that the stock market witnessed a positive session during the day.
“The KSE-100 index traded in the green zone throughout the day as investors opted for value hunting across the board. Rally was observed in the IT sector as IT exports have surged to $ 2.616 billion (FY 2021-22),” the analysts said.
READ MORE: Pakistan stocks end up in mixed trading session
Investors participation remained healthy as hefty volumes were witnessed in the main board and 3rd tier stocks, they added.
Sectors contributing to the performance include Banks (+154.1 points), Technology (+93.3 points), E&P’s (+64.9 points), Power (+24.7 points) and OMC’s (+18.5 points).
READ MORE: Pakistan stocks fall amid political uncertainty
Volumes increased from 121.6 million shares to 251.3 million shares (+106.7 per cent DoD). Average traded value also increased by 125.3 per cent to reach US$ 39.0 million as against US$ 17.3 million.
Stocks that contributed significantly to the volumes are WTL, TPLP, LOTCHEM, TRG and CNERGY.
READ MORE: Weekly Review: market likely to stay positive on financial results
