KARACHI (62 News) – Pakistan Stock Exchange continued its winning streak and gained more than 700 points where foreign buying lifted the sentiment and index comfortably nearing 45000 points level.
The KSE 100-index recorded a gain of 718 points to close at 44897 points where 277 companies showed advances as against 89 declines.
The index scored sharply and since last one week the index has now gained nearly 1900 points on the back of continued support from the foreign investors. Foreign investment from January 1 to January 19 amounted to 83 million dollars highest arrival of funds from overseas investors since April 2014.
This has been good omen for the investors and booked trading and investment stocks. Stocks which recorded appreciable gains belong to auto, cement and steel sectors.
Bullish activity was witnessed in scrips across the board on strong earnings outlook.
Autos, Oil and Cement stocks outperformed on renewed foreign interest. Trade remained higher in second and third tier scrips ahead of major earnings announcements next week. Prime Minister’s approvals for amnesty scheme on offshore assets and surging cotton production data played a catalyst role in bullish close at PSX.