KARACHI: The stocks opened Tuesday with positive note and gained 24.88 points to reach 42550.81 points level in early trading.
On Monday the Pakistan Stock Exchange declined by 323 points due to profit-taking and closed at 42,526 points.
Market opened on a positive note and rallied to make an intra-day high of 235 points but came under selling pressure during the latter hours, as the index fell to close in the red zone.
Banks mainly led the index to decline as UBL and HBL contributed 104 points to the fall in index. Stocks declined between 2% to 2.9%. INDU (down 1.99%) in the automobile sector lost value to close in the red zone, as sales number released by PAMA indicated a YoY decline of 26% in the automobile assembler sales numbers for the month of Oct-16. Overall, volumes increased by 2.4 percent to 554m shares, while value increased by 3.5pc to Rs17.6b/$169m.
