Stock market gains 77 points amid profit taking

Stock market gains 77 points amid profit taking

KARACHI: The stock market gained 77 points on Friday amid profit taking observed during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 47,296 points from previous day’s closing of 47,219 points.

Analysts at Topline Securities said that KSE-100 index opened on a positive note and gained to make an intraday high of 389 points, however profit taking was observed during the latter hours of the trade as index declined to close at 47,296 level up by 77 points).

Major contribution to the index came from UBL, HBL, MCB, OGDC and PIOC, as they cumulatively contributed 102 points to the index, whereas on the other hand FFC, TRG, SYS, POL and THAL lost value to weigh down on the index by 124 points.

Traded volume and value for the day stood at 469 million shares and Rs.15.95 billion respectively. WTL was today`s volume leader with 42 million shares.