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PSX continues upward rally till midday

PSX continues upward rally till midday

KARACHI: The Pakistan Stock Exchange remained bullish till midday as the benchmark 100-index added another 83.54 points to reach 41641.61 points level on Friday.

Earlier, the stocks opened positive and gained 86 points to reach 41644 points level. On Thursday, bulls bounced back at the stock market, pushing the benchmark KSE 100-index up by 825 points to 41,558 points.

The KSE-100 made an intra-day high of 41,614 points given improved investor sentiments across the board coupled with sufficient liquidity available with local investors.

Market witnessed recovery in yesterday’s trading session as value investors availed the opportunity to buy stocks at attractive prices. Increase in heavy weight stocks including ENGRO (up 4.55%), PPL (2.74%), HBL (1.68%) and PSO (up 3.77%) steered the market.

Average daily volumes were massively up by 68% DoD to 232m shares. Likewise, average daily value traded significantly increased by 85% DoD to settle at Rs11.5b/USD109m. Volume leaders during the day were KEL, EPCL, DSL, TRG and EFERT which cumulatively contributed 37% to total volumes. Scrips of total 384 active companies participated in the session of which 301 concluded in advance, 70 in decline while 13 remained unchanged.