Pakistan stocks gain 468 points in bullish session

KARACHI: Pakistan stocks gained 468 points on Thursday in a bullish trading session during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 39,747 points from previous day’s closing of 39,279 points, showing a gain of 468 points.

Analysts at Arif Habib Limited said that a bullish session was witnessed at the PSX during the day continuing the acclamatory momentum from the previous close.

The market opened in positive territory and made an intraday high of 441.56 points as investors elected for value angling in the main board.

The benchmark KSE 100 index traded in the green zone throughout the day investor participation remained on the higher side.

The market remained quite volatile during the last trading hour.

However, healthy volumes were recorded across the board, whereas 3rd tier stocks remained volume leaders.

Sectors contributing to the performance include Cement (+93.4 points), Technology & Communication (+89.4 points), Fertilizer (+69.3 points), E&P’s (+39.4 points), and Miscellaneous (+36.8 points).

Volumes decreased from 258.5 million shares to 227.8 million shares (-11.9 per cent DoD). The average traded value also decreased by 17.3 per cent to USD 31.1 million as against USD 37.6 million.

Stocks that contributed significantly to the volumes are BAFL, KEL, CNERGY, WTL,& BOP.