KARACHI: The Pakistan Stock Exchange Friday started day on bullish note and gained 85 points to reach 45574 level in early trading.
Yesterday, the stocks continued its positive momentum due to easing political noise and closed up 316.63 points at 45,490 points. Stability in crude oil prices and recent rupee devaluation also led to interest in E&P stocks, which contributed 64 points to the index.
TRG Pakistan closed at its lower lock, as company intimated exchange regarding postponement of its subsidiary’s (IBEX Holdings) Initial Public Offering (IPO) due to volatility in market. The K-Electric (KEL) remained volume leader with traded volume of 51m shares after reissuance of intention of acquisition by Shanghai Electric.
Market participation in terms of volumes traded improved by 20 percent. Similarly, value went up by 13 percent. Top five stocks UBL (+2 percent ), OGDC (+1.4 percent ), LUCK (+1.4 percent ), PAKT (+4.9 percent ) & HUBC (+1.5 percent ) added 147 points to the index gain whereas stocks including TRG (-5 percent ), HBL (-0.4 percent ), DAWH (-1.3 percent ), SNGP (-0.7 percent ) & PIBTL (-1.4 percent ) withheld 52 points from the index.
