KARACHI: The stocks Monday opened new trading week with bullish note and added 49.05 points to reach 33807.17 points level in early trading.
Last week, the Pakistan Stock Exchange’s 100-share index down 0.6 percent on WoW basis as both average traded volumes (-31 percent) and value (-18 percent) took a hit. Of the major sectors, cement (-1.5 percent WoW) and power (-1.3 percent WoW) closed in the red zone mainly on account of general profit-taking, whereas oil & gas sector recovered by 1 percent WoW on the back of recovery in international crude oil prices, providing some respite to the overall index level. Average daily volume fell 31 percent to 190.3m shares and average daily value declined 18 percent to Rs8.7b/$82.3m in the outgoing week. Foreign investors were net sellers of $1.5m during the week. Net selling worth $7.4m was seen in banking sector stocks. Cement stocks continued to attract attention as net buying worth $3.9m was seen in them.
