KARACHI: The stocks continued its record-breaking spree as the benchmark 100-index added 75.75 points to reach 43025.48 points level in early trading on Friday.
On Thursday, the Pakistan Stock Exchange rallied to fresh all-time high level amid consolidation in the post-earnings season. Market continued its positive momentum during the initial hours of the trade but soon investors opted for profit-taking as the index gained around 49 points to close at 42,950 points.
E&P sector gained to close in the green zone on the back of the news that the world’s listed oil companies have slashed oil output by 2.4 percent so far this year during one of the industry’s worst downturns as OPEC battles to agree on its first production cut since 2008. PPL (up 0.7%) and OGDCL (0.5%) were top performers of the aforementioned sector. Investors’ interest was seen in cement sector as the sector gained to close higher from its previous day’s close. ACPL (up 5.0%), CHCC (2.7%) and DGKC (1.6%) were top performers of the aforementioned sector. Overall, volumes increased by 14% to 564m shares, while value rose by 1% Rs18.3b/$175m.
