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PSX adds huge 871pts till midday
A man takes a nap on a couch under an electronic board displaying share prices during trading session at the Karachi Stock Exchange April 2, 2014. REUTERS/Akhtar Soomro/File Photo

PSX adds huge 871pts till midday

KARACHI: The Pakistan Stock Exchange (PSX) continued to add another 871 points to reach 40804 level till midday on Wednesday.

The stocks started day on positive note and added 510 points to take the tally to 40443 level in early trading.

Yesterday, the stocks managed to close green after witnessing a volatile session as the benchmark KSE-100 Index gained 267 points to close at 39,933.

The index peaked at 40,013 and touched a day’s low of 39,331 points before settling. In all, 141.97 million shares worth Rs6.0 billion were traded at the exchange. Of the 319 scrips traded, 210 advanced, 89 declined and 20 remained unchanged.

FCCL (+4.16percent) from Cements led volumes with more than 17mn shares. Cement sector led optimism in the market on the back of news that there has been an increase of Rs10-15 per bag in the North region. DGKC (+4.90percent), MLCF (+4.96percent), PIOC (+4.57percent), KOHC (+3.62percent), LUCK (+3.19percent) and FCCL (+4.16percent) closed well in the green zone. Banking space blew hot and cold in today’s trading session where MCB (+1.17percent), UBL (+0.16percent) and FABL (+2.66percent) closed in positive territory, whereas BAFL (-0.02percent), HBL (-0.27percent) and NBP (-0.30percent) closed lower than in the previous trading session.

E&P sector closed lower than its previous day as crude oil prices edged lower in international market, hitting a three-month low, where POL (-1.23percent), OGDC (-0.01percent) and PPL (-1.44percent) were major losers.