KARACHI – Pakistan Stock Exchange (PSX) continued its upward trajectory on Thursday and the benchmark 100-share index closed at the all-time high level of 40,137.93 points after gaining 52 points (0.13%).
Rally in the automobile sector was witnessed on the back of depreciating Yen. Top performer of the aforementioned sector was INDU (up 5.00%). On the other hand, pressure was witnessed in the cement sector on the back of concern of excess capacity in the country going forward. LUCK (down 0.27%) and MLCF (1.57%) were the major laggards of the sector. Similarly, pressure remained in the pharmaceutical sector, where GLAXO (down 1.23%) was the major decliner of the day. Positivity in the oil sector prevailed on the back of surging global crude oil prices, as OGDC (up 0.49%) rallied, stated analyst Ahmed Saeed Khan. Volumes increased by 13.4% to 565m shares while traded value decreased by 8.5% to Rs16.2b/$155m. Index continued to climb with highest volume in over a year. PACE, DSFL and ANL led the volumes with 132m shares traded combined. Investors booked some profits on fear of continuous foreign selling in the last few days. DGKC, LUCK and MLCF declined between 0.2%-1.6%, said dealers at major brokerage.