KARACHI: Pakistan stocks on Monday gained 63 points as positive sentiments prevailed during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,857 points from last Friday’s closing of 41,794 points, showing a gain of 63 points.
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Analysts at Arif Habib Limited said that a positive session was recorded at the PSX to begin the week today.
The market opened in the green zone and traded with positive sentiments as bulls derived the index to make an intraday high of 497.90 points in hopes of getting the Staff Level Agreement (SLA) agreement signed between the government and IMF on Monday or Tuesday as stated by the finance minister.
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The investors remained optimistic throughout the trading session as healthy volumes were witnessed across the mainboard while the E&P Sector remained in the limelight.
Sectors contributing to the performance include E&P’s (+208.1 points), OMCs (+24.0 points), Fertilizer (+14.9 points), Paper & Board (+4.3 points), and Textile Composite (+1.6 points).
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Volumes increased from 272.8 million shares to 289.3 million shares (+6.1 per cent DoD). The average traded value also increased by 51.2 per cent to USD 36.5 million as against USD 24.11 million.
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Stocks that contributed significantly to the volumes are HASCOL, TELE, OGDC, WTL and TPLP.
