KARACHI: The Pakistan Stock Exchange (PSX) opened keeping previous day’s positive note and gained 18 points to 40472 points level in early trading on Thursday.
Yesterday, the bulls returned to the PSX as the KSE 100-index went up by 836 points and closed at 40,453 points.
Top 5 index point contributors were OGDC (up 3.6%), PPL (3.5%), MCB (3.6%), HBL (2.2%) & POL (4%), adding 298 points, while top 5 index laggards were PAKT (down 4.9%), COLG (4.1%), ABOT (1.3%), PAEL (0.5%) & IGIIL (0.6%), withholding 35 points.
Oil and power sector stocks outperformed amid surging global crude oil prices on likely extension on OPEC output cut, revision in local POL prices and London Court award of Rs14 billion to few IPPS listed on PSX in dispute with NTDC. Volumes were down 16% d/d at 117m shares, while value traded declined 26% at Rs7b/$65m.
