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Stocks adds another 118pts in early trading

Stocks adds another 118pts in early trading

KARACHI: The Pakistan Stock Exchange (PSX) opened on the last trading day of the week keeping bullish note and gained 118 points to reach 47202 points level in early trading on Friday.

On Thursday, the stocks continued its positive momentum with profit taking in selective stocks as the 100-share index closed at 47,084 points after gaining 135 points.

Index heavy weights continued to drive the rally as HBL (up 1.1%), MCB (2%), KEL (7.7%) and PSO (1.9%) contributed 119 points to index gain. On the other hand, PAKT (down 5%), SNGP (1.9%), ISL (2.7%) and PPL (0.8%) withheld 68 points.

Interest was seen in power generation and distribution sector as the sector gained 3%. KEL remained in limelight gaining 7.7% ahead of its FY16 result which is likely to be prepared on previous multiyear tariff.

Traded volumes were up 24% to 455m shares as compared to 368 million shares in the previous trading session. Whereas traded value was down 4% to Rs16.1b/$153m. Scrips of total 405 active companies participated in the session of which 242 concluded in green, 147 in red while 16 remained unchanged.