KARACHI: The stock market gained 476 points on Thursday owing to positive sentiments prevailed after decline in cut-off yield of government papers.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 39,382 points as against 38,906 points showing an increase of 476 points.
Analysts at Topline Securities said that in line with the international and regional markets, KSE 100 index marked decent comeback, as the index gained +1.2 percent to close at 39,382 level.
Decline in PIB yields in the range of 15-46 basis points in yesterday’s auction also provided stimulus to the market.
Despite positivity in the market, banking sector declined by 1 percent as speculations over the decline in policy rate in upcoming monetary policy committee meeting are doing rounds.
Investor confidence improved as traded volume and value went up by 82 percent and 80 percent respectively compared to last day. FCCL was today`s volume leader with 30 million shares.
