Pakistan stocks up 671 points on continuous rupee gain

Pakistan stocks up 671 points on continuous rupee gain

KARACHI: Pakistan stocks ended up 671 points on Friday due to rupee continued to make recovery against the dollar.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 42,096 points from previous day’s closing of 41,425 points, showing a gain of 671 points.

READ MORE: Pakistan stocks gain 357 points as rupee continues recovery

Analysts at Arif Habib Limited said that bulls triumphed the trading session at PSX today.

In the first trading session, KSE-100 index remained in the green zone as value buying was witnessed across the board.

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

In the second session, investors gained confidence due to positive news flows regarding the IMF Program resumption as Pak rupee further appreciated against the US dollar.

Additionally, positive results announcement triggered the investor participation. Refinery and cement sectors remained in the limelight.

READ MORE: Pakistan stocks end in green on rupee recovery

Sectors contributing to the performance include Banks (+181.8 points), Cements (+134.4 points), Automobile Assembler (+42.8 points), OMC’s (+39.4 points) and Power (+37.0 points).

Volumes increased from 275.4 million shares to 406.7 million shares (+47.7 per cent DoD). Average traded value also increased by 47.2 per cent to reach US$ 51.9 million as against US$ 35.3 million.

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

READ MORE: Pakistan stocks end down 74 points

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