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Stocks start new week on positive note, gain 343pts

Stocks start new week on positive note, gain 343pts

KARACHI: The Pakistan Stock Exchange started new week with positive note and gained 343 points to reach 48752 points level in early trading on Monday.

On Friday, the stocks opened on a positive note as the index traded at intraday high of 438 points to finally close at 48,409 level by rallying around 120 points. HBL witnessed high volatility with highest volume traded since 2007 of 15.5 million shares. Surge in global crude prices supported selected oil stocks. Pre-budget speculations in cement, banking and auto stocks played a catalyst role in bullish close, market participants said. Overall, volume increased by 17.7 percent to 212 million shares, while value rose by 61.7 percent to Rs16.5 billion.