Abb Takk News

Bullish Trend Prevailed At Stock Market on First Day of Week

KARACHI: Bullish momentum prevailed at the Pakistan Stock Exchange on Monday as the KSE-100 index surged on the back of sharply higher crude prices and expectation of monetary easing in an announcement later in the day.

Trading kicked off on a positive note, however, selling pressure in early hours dragged the index into the red zone. Fortunately, recovery was quick as stocks in the oil and gas exploration sector jumped following a hike in global oil prices.

Trading kicked off on a positive note, however, selling pressure in early hours dragged the index into the red zone. Fortunately, recovery was quick as stocks in the oil and gas exploration sector jumped following a hike in global oil prices.

Overall, trading volumes increased to 104.6 million shares compared with Friday’s tally of 103.1 million. The value of shares traded during the day was Rs4.98 billion.

Shares of 345 companies were traded. At the end of the day, 184 stocks closed higher, 144 declined and 17 remained unchanged.