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PSX continues bullish note till midday, adds 101pts
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 continues bullish note till midday, adds 101pts

KARACHI: The Pakistan Stock Exchange (PSX) kept its bullish note till midday after adding 101 points to reach 43629 level on Friday.

The stocks opened keeping previous day’s bullish note and added 106 points to reach 43635 level in early trading.

On Thursday the stocks turned bullish again, with the benchmark KSE 100-index gaining 609 points to close at 43,528 points.

The benchmark index opened on negative activity before adopting a positive momentum for the rest of the session. It hit a day’s low of 42,384 points a few minutes after trading commenced, whereas it hit a day’s high of 43,628 points near the end of the session.

Higher global crude prices, upbeat data on textile exports, upbeat remittances and cement dispatches for Jul-Dec’17 and robust financial results in cement, banking and oil sectors played a catalyst role in bullish close. Participation increased with improvement in sentiments despite upcoming FATF decision.

Traded value was up 7% and traded volumes were up 1%. Top 5 index point contributors included UBL (down 4%), HBL (1.8%), ENGRO (2.7%), OGDC (1.9%) and MCB (1.8%), which added 354 to the index.