Staff Reporter
Karachi
Investors’ interest flared up at the Pakistan Stock Exchange on Thursday, aided by the launch of the Roshan Digital Account by Prime Minister Imran Khan and the KSE-100 index went above 42,600 points.
Oil sector stocks outshined other shares at the bourse and attracted modest investment.
Earlier, trading began on a bullish note and the KSE-100 index marched on an upward trajectory for the rest of the day. A host of positive news flow prevented the market from falling in the negative zone and it ended the day with substantial gains.
At close, the benchmark KSE-100 index recorded an increase of 625.10 points, or 1.49%, to settle at 42,647.35 points.
PSO traded near its upper circuit. Oil and Gas Development Company, Pakistan Petroleum and Pakistan Oilfields also responded positively to the uptick in international crude oil prices overnight. Fertiliser sector also enjoyed positive activity as a high court granted stay on the collection of gas infrastructure development cess (GIDC).
Technology sector recorded trading volumes of 138.8 million shares, followed by transport firms (126.6 million) and banks (76.6 million), the report said.
JS Global analyst Maaz Mulla said bears were defeated as the benchmark index opened on a positive note and touched a high of +655 points as institutional participation was noted in the main board stocks.
