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Home / Markets / Stocks open keep bullish note, add 158pts in early trading
Stocks open keep bullish note, add 158pts in early trading

Stocks open keep bullish note, add 158pts in early trading

KARACHI: The Pakistan Stock Exchange (PSX) Tuesday opened keeping bullish note of previous day and gained 158 points to reach 46168 points level in early trading.

On Monday, positive momentum persisted at the PSX as index gained another 98 points and closed at 46,010 points. HBL (down 5%) closed at its lower circuit on account of rumours of any penalty imposed on the bank due to compliance issues in its New York branch. LUCK (down 0.50%) posted its financial results for FY17 in which the company reported an EPS of Rs42.34 and a dividend of Rs12/share, in line with market expectation. FFC (down 4.50%) shed points as financial results for 1H2017 announced by the company did not meet investor expectations.

Top 5 index point performers were SNGP (up 4.6%), ENGRO (2.2%), OGDC (1.9%), MARI (3.3%) & HUBC (up 1.4%), adding 168 points; while HBL (down 5%), FFC (4.5%), PPL (1.3%), UBL (0.8%) & INDU (2.2%) held back 282 points (out of which HBL/FFC was 181/52points).

Participation sustained Friday’s levels with volumes at 319m shares (down 3% d/d) while traded value shed 11% to Rs18.8b/$178m. ANL led the volume with 33 million shares of the textile stock changing hands.