KARACHI: According to Dawn, the Pakistan Stock Exchange on Thursday kept gains above the 166,000 level for a second straight value-hunting session despite regional and political turmoil and inflation risks from elevated oil and energy costs.
Topline Securities said the KSE-100 rose 768.66 points, or 0.46%, to settle at 166,186.17, trading between 165,613 and 166,877. Ali Najib of Arif Habib Ltd said the market opened positive and held its upward momentum, though profit-taking in select stocks at higher levels trimmed some gains.
PTCL, Fauji Fertiliser, Systems Ltd, Hubco, OGDC, Meezan Bank, Lucky Cement, HBL, PPL and UBL collectively contributed about 560 points. Volume fell 11.65% to 517.6 million shares while turnover rose 17.42% to Rs23.5 billion; Cnergyico led volume with 62.8 million shares.
Analysts said sustained gains above 166,000 signal a constructive near-term outlook, but sell-on-strength behaviour and escalating Houthi attacks on Saudi Arabia may keep sentiment cautious. More on Dawn.