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Stocks open on bullish note
A sign of the Pakistan Stock Exchange is seen on its building in Karachi, Pakistan January 11, 2016. REUTERS/Akhtar Soomro/File Photo

Stocks open on bullish note

KARACHI: The Pakistan Stock Exchange (PSX) Tuesday started day on bullish note and added 154 points to reach 44677 points level in early trading.

Yesterday, the PSX commenced week with lackluster session on political noise as the benchmark shares index, after hitting an intra-day high of 293 points and a low of 362 points, finally closed at 44,523.21 points after gaining 186 points.

First hearing of the JIT report by the SC was held Monday; which clearly spooked investors as traded volume shrunk 33% to 3-year low of 75.3m shares, while traded value contracted 30% to Rs4.2b/$39.8m. Top Index point contributors were BAHL (+4.3%), HUBC (+1.8%), LUCK (+1.5%), UBL (+1.3%) & OGDC (+1.4%); adding 145 points, while HBL (-0.7%), PPL (-1.1%), JLICL (-4%), PMPK (-4.3%) & ENGRO (-0.3%) held back 62 points.

KEL led the volume in the market with 5.7 million shares of the power company being traded throughout the session. Scrips of total 355 active companies traded in the session, of which 177 closed in green, 161 in red while 17 remained unchanged.