KSE-100 index gains 134 points

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KARACHI: The benchmark KSE-100 index at the Pakistan Stock Exchange (PSX) on Wednesday gained 134 points to close at 39,589 points as against previous day close of 39,453 points.
Analysts at Arif Habib Limited said that market had another waivered session where it went high of about 600 points after starting at a negative note with a decline of 240 points.
They said that yesterday’s positive buying and the negative start today perplexed the retail investors and kept them at bay, which is why when the buying levels increased the volumes were still thin early on.
Post increase today, selling in blue chips DGKC, ASTL, HBL, UBL and Auto sector stocks eroded all the gain of 600 points and the market ended with gain of 134 points.
Sectors contributed to this increase include Fertilizer (+89 points), Banks (+55 points), Power (+31 points), Auto (+16 points), Food (-78 points) and Tobacco (-10 points).
Volumes declined from 167.8 million shares to 128 million shares (-24 percent DoD). Average traded value also declined by 26 percent to reach $49.2 million as against $ 66.2 million.