KARACHI: The upward rally continued at the Pakistan Stock Exchange as benchmark 100-index added another 137points to reach 41337.46 points level till midday on Monday.
Earlier, the stocks gained 78.25 points to reach 41278.78 points level in early trading.
Last week, major surprise came from the oil & gas sector as despite rebound in international oil prices, the sector underperformed the benchmark KSE-100 index by 0.9 percent. The local investors remained optimistic about the outlook and continued to absorb incessant foreign selling (net $8.4 million of equities sold during the week).
Overall activity also witnessed improvement which can be gauged from 13 percent WoW increase in value traded ($163 million ADTO) and 14 percent WoW increase in average volumes traded during the week (605 million shares/day).
Average daily volumes for the outgoing week increased 14 percent WoW to 605 million shares while average daily value rose 13 percent WoW to Rs17 billion/$163 million during the week.
Foreigners were net sellers of $8.3 million during the week. Oil & Gas marketing sector witnessed net selling of $6.3 million, whereas net buying of $5.9 million was seen at banks.
