KARACHI: The Pakistan Stock Exchange on Wednesday gained 196 points in early trading to reach 46209 level.
Yesterday the stocks rose to eight-month high and also crossed 46,000-point mark after 160 sessions. KSE 100-share index closed positive for the fifth straight session, depicting revival of investors’ confidence after currency devaluation of 9 percent in last four months and expected resolution of declining foreign exchange reserves through intake of friendly loans and amnesty scheme. The market index closed 272 points up at 46,013 points.
Fauji Fertilizer company surged 4 percent, as BoD of the company approved investment of USD39m in Thar Energy Limited (TEL). Overall contribution of fertilizer sector remained 72 points to the index, followed by E&Ps (70 points) and automobile assemblers (45 points).
Market participation in terms of volumes traded improved by 8 percent. Similarly, value went up by 6 percent.
Top five stocks, POL (+5 percent), FFC (+3.6 percent), MTL (+5 percent), BAHL (+0.7 percent) & THALL (+5 percent) added 190 points to the index gain whereas stocks including HBL (-0.8 percent), COLG (-5 percent), KTML (-0 percent), JLICL (-3.5 percent) & PAKT (-1.9 percent) withheld 53 points from the index.
