KARACHI: The upward rally continued at Pakistan Stock Exchange as the benchmark 100-index gained 690 points to take the tally to 45912 points level till midday on Monday.
Earlier, the stocks started week on positive note and gained 38 points to reach 45279 points level in early trading.
Last week, the PSX 100-share index continued to remain under pressure as investors waited for clarity on the outcome of JIT investigation. The index was down 3 percent as compared to a decline of 1% seen during the week ending Jun 22 (pre-Eid).
Foreigners remained net sellers of $5.8m during the week as compared to buying of $9.2m last week (week ending June 22). Major buying was seen in cement sector ($5m) whereas selling was seen in oil & gas exploration ($6.2m) & banks ($3.3m). As a result of this unexpected PKR move against US dollar, PAEL plunged 10% in 3 sessions vs KSE 100-index benchmark index decline of 0.3%.
