KARACHI: The Pakistan Stock Exchange (PSX) became positive again till midday as the benchmark 100-index gained 233 points to take the tally to 49941 points level on Monday.
Earlier, the stocks started new week on negative note and shed 78.19 points to reach 49630.46 points level in early trading.
On Friday, the PSX maintained previous day’s momentum, as it gained 965 points to close at 49,709 points. The index rallied 2,105 points in two sessions.
INIL in the steel sector gained to close on its upper circuit as the steel company declared its result for 9MFY17 in which it posted robust earnings of Rs9.59/share, up 146% YoY. KAPCO (rose 1.38%) in the power sector garnered investor interest, as the IPP posted better than expected earnings of Rs7.68/share in its 9MFY17 result announcement.
Volumes were led by Engro Polymer with 37.6 million shares traded, TRG Pak Ltd with 32.4 million shares traded and Azgard Nine with 18 million shares traded. Market participation eased from yesterday given the Friday factor; traded volume declined by 3% to 396 million, while value fell by 6% to Rs24.1 billion.