KARACHI: Pakistan stocks gained 387 points on Wednesday owing to positive sentiments prevailed after the trade deficit of the country contracted sharply.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 42,226 points from previous day’s closing of 41,839 points, showing an increase of 387 points.
READ MORE: Pakistan stocks make gains on positive US nuke statement
Analysts at Arif Habib Limited said that a positive session was witnessed at the PSX on Wednesday.
The market traded in the green zone throughout the day as the trade deficit of Pakistan witnessed a sharp decline of 30.16 percent year on year basis.
READ MORE: Stocks end down by 193 points on political unrest
Investors’ participation remained active in the mainboard as 3rd tier stocks continued to remain as volume board leaders.
Sectors contributing to the performance include Commercial Banks (67.6 points), Cement (67.3 points), E&P’s (64.0 points), Fertilizer (58.3 points) and Automobile Assembler (32.7 points).
READ MORE: Weekly Review: stocks may move positive on FATF decision
Volumes increased from 190.3 million shares to 250.3 million shares (31.5 per cent DoD). The average traded value also increased by 14.0 per cent to USD 30.1 million as against USD 26.4 million.
Stocks that contributed significantly to the volumes are GTECH, WTL, GTECHBR, GGL and DFML.
READ MORE: Stocks end down by 137 points in mixed trading session
