KARACHI: The Pakistan Stock Exchange (PSX) Thursday opened bullish adding 445 points to reach 41704 points level in early trading.
Yesterday, the lacklustre activity was witnessed at the PSX as the benchmark 100-share index rallied by 210 points and closed at 41,259 points amid thin volume.
The bourse opened on a negative note, however value buying helped the index to recover later, making intra-day high of 244 points. Oil & gas sector remained under pressure and participants, although few, were witnessing cashing on their investments, brokers said. Contrary to activity in the previous sessions, investors found cherry picking opportunities in LUCK, SNGP and ISL. Auto sector demonstrated investors’ confidence with healthy activity in PSMC and HCAR.
On a scrip-wise basis, market was led by LUCK that added 39 points, SNGP 21 points, ISL 18 points, SEARLE 18 points and MTL that contributed 13 points to the index respectively. On the other side, stocks that remained in red included OGDC that shed 44 points, PPL that eroded 23 points, KTML that detracted 13 points, ENGRO 12 points, and PKGS that took away 7 points from the index respectively.
Market volumes were still less than 100m and were recorded at 97m (8.7% down DoD) as compared to 106.5m of the previous day. Average value traded showed 2.3% DoD appreciation with flows of $ 53.6m as compared to $52.4m of the previous day.
