Stocks gain 115 points in volatile session

Stocks gain 115 points in volatile session

KARACHI: Pakistan stocks gained 115 points on Friday in a volatile trading session during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,129 points as compared with previous day’s closing of 41,014 points, showing a gain of 115 points.

READ MORE: Pakistan stocks witness bloodbath on HBL terror probe

Analysts at Arif Habib Limited said that the market remained under pressure all day long as investors participated left and right.

The stock market remained sluggish during the opening half but got active in the second trading session.

READ MORE: Stocks shed 83 points on rising political noise

The investors maintained a strategic distance due to political and economic instability, however due to rollover week, hefty volumes were witnessed in the future contracts that led the index close in the green.

Sectors contributing to the performance include Technology (+80.4 points), E&P’s (+35.6 points), Fertilizer (+24.4 points), Investment Banks (+20.9 points) and Tobacco (+13.0 points).

READ MORE: Stocks gain 367 points amid clarity on political ground

Volumes increased from 127.4 million shares to 205.7 million shares (61.4 per cent DoD). The average traded value also increased by 72.1 per cent to US$ 41.6 million as against US$ 24.2 million.

Stocks that contributed significantly to the volumes are TRG, TPLP, KEL, PIBTL and CNERGY.

READ MORE: Stocks climb 531 points over PKR recovery

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