KARACHI: The stocks have gained 192 points on Friday owing to expectations of unchanged key policy rate in the upcoming policy statement.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,018 points as against previous day’s closing of 44,826 points, showing an increase of 192.
READ MORE: Bearish trend continues at Pakistan Stocks
Analysts at Arif Habib Limited said that bulls ruled over the bears today due to expectation of status quo in the upcoming MPC meeting.
Market opened on a positive note and stayed in the green zone throughout the day.
READ MORE: Pakistan’s stocks plunge by 674 points on high oil prices
Main board activity remained gloomy. On the flip-side, activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks.
In the last trading hour, value buying was observed due to result announcements in the upcoming week.
READ MORE: Stocks fall 105 points on high oil prices, COVID cases
Sectors contributing to the performance include Technology (+66.1 points), Banks (+52.9 points), E&P (+16.1 points), Textile Composite (+11.8 points) and Power (+11.1 points).
Volumes decreased from 254.2 million shares to 176.1 million shares (-30.7 per cent DoD). Traded value also decreased by 8.6 per cent to reach US$ 40.1 million as against US$ 43.9 million.
Stocks that contributed significantly to the volumes include TRG, JSCL, WTL, CNERGY and GGL.
READ MORE: KSE-100 observes dull trading on rising COVID cases
