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Stocks open week on bullish note

Stocks open week on bullish note

KARACHI: The Pakistan Stock Exchange Monday opened on bullish note and added 203 points to reach 45498 points level in early trading.

Last week, the PSX witnessed a slight upward rally following a selling rampage over the last few weeks as value buyers jumped in to take positions ahead of the corporate results season.

The benchmark KSE 100-index closed 2.2 percent higher with average daily volumes and value declining by 23 percent (to 134m shares/day) and 22 percent (to $72m/day), respectively. Amongst the key sectors, oil & gas exploration (+5 percent), autos (+5 percent) and OMCs (+4 percent) were top gainers, whereas textile weaving (-5 percent WoW), power generation (-1 percent WoW) and chemicals (-1 percent WoW) lagged behind.