Abb Takk News

Bull-run On PSX As Index Gains 1374 Points

Karachi (June 5, 2017): After week long losing streak, the Pakistan Stock Exchange on Monday started trading in the green and bullish trend is seen on the market.

The benchmark KSE-100 index on Monday gained over 1300 points in morning trade and the index is trading at 49929 points level.

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The index has so far gained some 1374 points.

On Friday, though the index had managed to close the session in the positive, but the rule of adjusted closing mechanism of last two hours average, led to a negative close by 225.51 points (-0.46pc) at 48,555.30. The decline on Friday took the aggregate five session loss of KSE-100 index to 4,082 points.

The overall market participation on Friday remained on the lower side with 222million shares traded against 404 shares that changed hands a day earlier.

Intermarket Securities noted the investor focus remained pinned on the MSCI Emerging Markets Index stocks, with maximum traded value witnessed in Engro, HBL and Lucky Cement.

Major contribution to downside came from OGDC which fell 3.35pc, HBL 1.61pc, UBL 1.57pc, Engro 1.68pc and SNGPL 2.40pc. On the other side, BAHL gained 3.87pc, K-Electric 4.47pc and NBP 2.29pc.

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