KARACHI: The stocks gained 156 points on Thursday ahead of mini-budget announcement, analysts said.
The analysts at Arif Habib Limited said that the index stayed in the green zone ahead of mini-budget.
Cement sector remained in the limelight as cement stocks rallied in the first trading hour due to reduction in international coal prices.
In banking sector, MEBL stayed in the limelight as SBP for the first time has introduced shariah compliant liquidity facilities for Islamic banking institutions to enable them to offer better returns and rates to their customers on deposits and loans.
Moreover, activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks.
Sectors contributing to the performance include Technology & Communication (+79 points), Commercial Banks (+60 points), Fertilizer (+44 points) Cement (+32 points) and Tobacco (+16 points).
Volumes decreased from 271.1 million shares to 243.1 million shares (-10.3 per cent DoD). Traded value increased by 26.8 per cent to reach US$ 58.3 million as against US$ 45.9 million.
Stocks that contributed significantly to the volumes include KEL, TREET, TRG, CNERGY and PRL.