Trading Closes With Positivity At PSX On Friday

KARACHI, May. 12 (UrduPoint / Pakistan Point News - 12th May, 2017 ) - Trading at pakistan stock exchange ended on a positive note Friday, with the benchmark KSE-100 index reaching 51,750.91 points, a net gain of 324.90 points over the preceding session.

Stocks of 382 companies were traded, of which 194 gained in value, 165 declined and 23 remained unchanged. 127 million shares changed hands with a total worth of nearly 13.16 billion.

Volumes were led by Summit Bank trading 34.5m shares followed by K-Electric Ltd (22.25m shares); Byco Petroleum (19.36m shares); Dewan Cement (18.65m shares) and Bank of Punjab (18.38m shares).

Analysts commenting on the situation attributed bullish trend to optimism rampant in the market about the MSCI rating reclassification expected on May 15. Speculated investments in pre-budget rally was cited to be the reason for stock volumes led by commercial banking, oil and fertilizers.