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106-point rally ends four-day gloomy spell
KARACHI: The stock market snapped four-day losing streak on Wednesday and gained 106 points (0.27 per cent) to close at 39,506.
The market remained volatile throughout the session and traded between the intraday high of 144.49 points and low of 37 points. Volumes declined by 19pc to 140 millon shares. Trading value also decreased by 6pc to Rs7.6bn over the previous session. Going forward, the market is expected to stay subdued due to the rollover week.
βOn Wednesday result-driven activity was witnessed in Hubco and OGDCL, which led the stocks gain in the range of 0.24pc to 1.24pc. Meezan Bank closed in the red, down 0.9pc as the result announcement was below street consensus,β said dealers at Topline Securities.