KARACHI: The Pakistan Stock Exchange Monday gained 78.25 points to reach 41278.78 points level in early trading.
Last week, major surprise came from the oil & gas sector as despite rebound in international oil prices, the sector underperformed the benchmark KSE-100 index by 0.9 percent. Encouragingly, local investors remained optimistic about the outlook and continued to absorb incessant foreign selling (net $8.4 million of equities sold during the week).
Overall activity also witnessed improvement which can be gauged from 13 percent WoW increase in value traded ($163 million ADTO) and 14 percent WoW increase in average volumes traded during the week (605 million shares/day).
Average daily volumes for the outgoing week increased 14 percent WoW to 605 million shares while average daily value rose 13 percent WoW to Rs17 billion/$163 million during the week.
Foreigners were net sellers of $8.3 million during the week. Oil & Gas marketing sector witnessed net selling of $6.3 million, whereas net buying of $5.9 million was seen at banks.