The Pakistan Stock Exchange (PSX) landed in the green on Thursday as the benchmark KSE-100 index gained 135 points, or 0.29 per cent, by the close of the trading session to reach 47,084 points.
The benchmark seesawed throughout the trading session. The index tested the day's high at 47,168 points near the close of the session. The market touched the day's low at 46,857.
Trading activity was led by the communications sector, with 63.5 million shares traded during the session. The banking and the power sectors followed with 59.8m and 48.8m shares traded respectively.
"The market continued its positive momentum with profit taking in selective stocks," said a JS Global report, adding that the KEL (+7.65pc) led the volume today with 44m shares of the power distribution company changing hands.
"POL (+1.23pc) and OGDC (+0.64pc) in the oil and gas exploration and production sector gained to close in the green zone as oil prices rose in the international market. Commercial bank heavyweights including HBL (+1.11pc), MCB (+2.01pc), NBP (+0.59pc) and ABL (+1.07pc), cumulatively contributed +77 points to the KSE-100 index," the report added.
The report further said that downward pressure was witnessed in oil and gas marketing stocks as SHEL (-0.55pc), SNGP (-1.89pc), and SSGC (-0.46pc) shed points.
Ahsan Mehanti of JS Global said, "Upbeat CPI Inflation data for July 2017 supported leveraged stocks in the cement, textile and auto sectors."
He added that the reports of surging cement dispatches and oil consumption data for July amid higher global crude prices played a catalyst role in the bullish close.
A total of 202m shares worth nearly Rs11.2 bn of KSE-100 index companies changed hands during the session.
Stocks of 388 companies were traded, of which 234 gained in value, 137 declined and 17 remained unchanged.
Volumes were led by:
K-Electric Ltd: 44.7m shares traded [+7.65pc];
B.O.Punjab: 43.2m shares traded [+4.48pc];
Azgard Nine: 33.5m shares traded [+6.70pc];
Hum Network: 23.5m shares traded [-5.86pc];
TRG Pak Ltd: 22.9m shares traded [+3.82pc].
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