KARACHI: Stocks gained 83 points on Monday as the Pakistani Rupee (PKR) continued to gain value against the US Dollar.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended 41,212 points from last Friday’s closing of 41,129 points showing a gain of 83 points.
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Analysts at Arif Habib Limited said that the PSX experienced a positive day today, as investor’s accumulated high dividend yield stocks and ongoing strengthening of Pak rupee against the US dollar.
The benchmark KSE-100 index opened in the green zone and maintained that momentum throughout the majority of the trading session, reaching an intraday high of 275.06 points after HUB power company announced an outstanding payout that boosted investor confidence.
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Sectors contributing to the performance include Power (+136.2 points), Technology (+30.9 points), OMC’s (+19.9 points), Vanaspati & Allied (+10.8 points) and Chemical (+10.4 points).
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Volumes decreased from 205.7 million shares to 185.4 million shares (-9.9 per cent DoD). The average traded value also decreased by 1.2 per cent to US$ 41.3 million as against US$ 41.8 million.
Stocks that contributed significantly to the stocks are HUBC, TRG, HBL, UNITY and HASCOL.
