Pakistan stocks gain 357 points as rupee continues recovery

Pakistan stocks gain 357 points as rupee continues recovery

KARACHI: Pakistan stocks gained 357 points on Thursday as the Pakistani rupee continued to make recovery against the US dollar.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,425 points as compared with previous day’s closing of 41,069 points, showing an increase of 357 points.

READ MORE: Pakistan stocks up 877 points on massive rupee appreciation

Analysts at Arif Habib Limited said that positive momentum continued at the PSX as investors remained active throughout the day.

The market traded in the green zone as Pak rupee continued its upsurge against the US dollar. Main board activity remained active although hefty volumes were witnessed in the 3rd tier stocks.

READ MORE: Pakistan stocks end in green on rupee recovery

Sectors contributing to the performance include Banks (+129.18 points), Cements (+75.9 points), Fertilizer (+25.8 points), Textiles (+24.7 points) and OMC’s (+19.6 points).

Volumes decreased from 303.4 million shares to 275.4 million shares (-9.2 per cent DoD). Average traded value also decreased by 16.3 per cent to reach $ 35.0 million as against $ 41.8 million.

Stocks that contributed significantly to the volumes are WTL, TPLP, PAEL, PRL and UNITY.

READ MORE: Pakistan stocks end down 74 points

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