KARACHI: Pakistan stocks gained 549 points on Thursday after the announcement of Asian Development Bank (ADB) of providing $2.3 billion.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended 42,160 points from previous day’s closing of 41,611 points showing an increase of 549 points.
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Analysts at Arif Habib Limited said that bulls ruled the day at PSX after the Asian Development Bank stated that it would give Pakistan aid worth $2.3 billion.
Due to the decline in international coal price, cement sector remained under limelight as the benchmark KSE-100 index traded in the green throughout the day.
READ MORE: Pakistan stocks gain 139 points on contraction in trade deficit
The investors remained bullish continuing the positive momentum from previous close. While third-tier stocks led the volume board, the main board continued to be on the healthy side.
Sectors contributing to the performance include Technology (+204.2 points), Fertilizer (+109.9 points), E&Ps (+84.3 points), Banks (+77.8 points) and Power (+42.5 points).
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Volumes decreased from 635.6 million shares to 442.6 million shares (-30.4 per cent DoD). The average traded value increased by 31.5 per cent to US$ 61.8 million as against US$ 47.0 million.
Stocks that contributed significantly to the volumes are WTL, TPLP, TRG, FLYNG and KEL.
