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PSX touches 49,000 mark till midday

PSX touches 49,000 mark till midday

KARACHI: The upward rally at the Pakistan Stock Exchange continued till midday and gained 268 points to take the tally to 48981 points level on Friday.

The benchmark 100-index even crossed the psychological barrier of 49,000 mark and reached 49020 points level but slightly dropped till midday break.

Earlier, the stocks opened bullish and added 232 points to reach 48945.56 points level in early trading.

On Thursday, the range bound activity was observed at PSX, as a result shares index gained 8.64 points or (0.02%) to close at 48,713 level. Volatility persisted in the market as the index traded between an intraday high of 229 points and an intraday low of 63 points and finally to close slightly in the green zone. Recovery was seen in the Fertiliser sector, as the sector gained 0.5 percent with FFC (rose 1.73%) and EFERT (1.67%) top performers in the sector. ASL (rose 3.93%) was today’s volume leader with 24 million shares traded. Overall, volumes decreased by 18.3 percent to 329 million shares, while value decreased by 17 percent to Rs18 billion.