KARACHI: Pakistan stocks gained 243 points on Thursday owing to positive sentiments prevailed after passage of finance bill by national assembly.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended 41,541 points from previous day’s closing of 41,298 points, showing an increase of 243 points.
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Analysts at Arif Habib Limited said that PSX witnessed a positive session today as PKR continued to extend gains against USD and cut-off yields on 3M & 6M T-bills fell by two basis points and 15 basis points respectively compared to the previous auction.
The benchmark KSE-100 index stayed mostly in the green territory as investors opted for value hunting due to clarity in the finance bill amendment approved by the National Assembly. Volumes continued to remain dull, on the contrary 3rd tier stocks remained in the limelight.
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Sectors contributing to the performance include Banks (+111.5 points), E&P’s (+58.8 points), Power (+26.9 points), Technology (+24.9 points) and Cement (23.2 points).
Volumes increased from 142.2 million shares to 192.9 million shares (+35.7 per cent DoD). Average traded value also increased by 26.9 per cent to reach US$ 33.1 million as against US$ 26.1 million.
Stocks that contributed significantly to the volumes are KEL, AGL, FCCL, WTL and PRL.
