Stocks end positive 45 points despite profit taking

Stocks end positive 45 points despite profit taking

KARACHI: Pakistan stocks ended positive by 45 points on Thursday despite profit taking observed in last hours of day trading.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 42,393 points from previous day’s closing of 42,348 points, showing an increase of 45 points.

READ MORE: Pakistan stocks end flat in low volumes

Analysts at Arif Habib Limited said that a positive session was witnessed at the PSX during the day continuing the acclamatory momentum from the previous close.

An increase in OMC margins facilitated the market participation on the higher side.

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The market opened in positive territory and made an intraday high of 310 points as investors elected for value angling in the main board.

Healthy volumes were recorded across the board, whereas 3rd tier stocks remained volume leaders.

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Sectors contributing to the performance include Commercial Banks (+73.5 points), Miscellaneous (+25.7 points), Power Generation & Distribution (+19.8 points), Oil & Gas Marketing Companies (+10.6 points), Fertilizer (+5.6 points).

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Volumes increased from 120.2 million shares to 161.8 million shares (+34.6 per cent DoD). The average traded value also increased by 0.8 per cent to USD 21.0 million as against USD 20.8 million.

Stocks that contributed significantly to the volumes are WTL, HASCOL, GCIL, NCPL, HBL & GGL.