KARACHI: The Pakistan stock Friday opened with positive note and gained 48 points to cross the psychological barrier of 42,000 and reached 42022.03 points level in early trading.
On Thursday, the positive momentum continued to prevail at the Pakistan Stock Exchange as the 100-share index surged by around 231.71 points and closed at a record high of 41,974 points.
HBL and UBL contributed 145 points to the gain. Stocks gained by 3.6% and 2.1% respectively. E&P sector continued to remain under pressure on the back of downward spiraling global crude oil prices due to surging US crude stockpiles. POL (down 1.14%) was the major laggard of the aforementioned sector. However, OGDC (0.02%) closed in green on the back of reaching new levels of crude oil production, in addition to new gas explorations. Furthermore, investors booked profits in the cement sector on the back of increase in the global coal prices.
