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Stocks gains 65pts in early trading

Stocks gains 65pts in early trading

KARACHI: The Pakistan Stock Exchange started the last trading day of week on positive on as the benchmark 100-index gained 65 points to reach 49653.34 points level in early trading on Friday.

On Thursday, the stocks staged recovery on lucrative valuation as the benchmark shares index rallied 374 points or (0.76%) to close at 49,587 level.

Banking sector led the gain in the market, as it gained to close (0.5%) higher than its previous day close. UBL (rose 2.42%), MCB (1.10%) and HBL (0.88%) were major index movers from the aforementioned sector, contributed 106 points to the gain in index. Investor interest was seen in the automobile sector as it close (2.21%) higher, where MTL (5%) and HCAR (3.56%) were amongst the major movers of the sector. DGKC (slip 0.96%) and MLCF (0.26%) in the cement sector lost value to close in the red zone, as both the companies declared their 1HFY17 result. Overall volumes increased by 37 percent to 263 million shares, while value declined by 18.4 percent to Rs14.2 billion.