KARACHI: Pakistan stocks ended up by 486 points on Monday on hopes of resolution of gas circular debt.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 40,155 points from last Friday’s closing of 39,669 points, showing an increase of 486 points.
READ MORE: Weekly Review: political, economic uncertainties to haunt stock market
Analysts at Arif Habib Limited said that the week started with a positive session at the PSX.
The market opened in a positive zone and stay green all day long. Investors’ participation remains healthy in E&P Sector on the expectation of resolution of gas circular debt, the index went up by 698 points intraday.
READ MORE: Pakistan stocks gain 122 points in mixed trading
Robust volumes were observed in the mainboard although third-tier stocks remained in the spotlight.
Sectors contributing to the performance include E&P’s (+177.1 points), Fertilizer (56.7 points), Miscellaneous (+50.6 points), Cement (+49.1 points), and OMCs (+39.5 points).
READ MORE: Bears take control of PSX as Pakistan stocks shed 558 points
Volumes increased from 132.6 million shares to 146.9 million shares (+10.7 per cent DoD). The average traded value also increased by 12.5 per cent to USD 22.9 million as against USD 20.3 million.
Stocks that contributed significantly to the volumes are, PPL, OGDC, WTL, PRL & KEL.
