KARACHI: Pakistan stocks ended up 191 points on Monday owing to inflows expectations from China and Saudi Arabia.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 42,047 points from last Friday’s closing of 41,856 points, showing an increase of 191 points.
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Analysts at Arif Habib Limited said that the new week got off to a solid start for the PSX with a strong momentum.
The benchmark KSE-100 index opened in the green and moved in the same range throughout the day, due to favorable expectations of monetary inflows from Saudi Arabia and China, as well as attractive valuations of stocks kept the investors involved in the market.
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The 3rd tier stocks had respectable volumes while overall volumes remained robust.
Sectors contributing to the performance include Technology & Communication (+36.9 points), E&P’s (+31.4 points), OMC’s (+23.4 points), Power Generation & Distribution (+21.5 points) and Commercial Banks (+16.8 points).
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Volumes decreased from 298.1 million shares to 240.2 million shares (-19.4 per cent DoD). The average traded value also decreased by -0.2 per cent to USD 24.58 million as against USD 24.63 million.
Stocks that contributed significantly to the volumes are WTL, DFML, HASCOL, SSGC and TPLP.
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