The stock market, which had been in steady decline continued to rise yesterday, driven by the oil sector.
The Karachi Stock Exchange (KSE) benchmark 100-share index closed with a rise of 0.38% or 125.88 points to end at 33,368.83.
JS Global analyst Muhammad Mobeen said that the Fatima Group of Companies touched its upper circuit.
“Ferozsons Laboratories (-3.5%) remained under pressure following the announcement of a cut in Hepatitis C drug Sovaldi prices,” said Mobeen.
Trade volumes dropped to 176 million shares compared to 180 million on Wednesday.
Shares of 361 companies were traded. Of these, 150 declined, 193 closed higher and 18 remained unchanged. The value of shares traded during the day was Rs9 billion.
K-Electric Limited was the volume leader with 21.3 million shares, gaining Rs0.07 to close at Rs8.00. It was followed by Jahangir Siddiqui and Company with 15.1 million shares, losing Rs1.00 to close at Rs18.99 and Pak Elektron with 14 million shares, losing Rs0.03 to close at Rs55.08.
Foreign institutional investors were net sellers of Rs287 million worth of shares during the trading session, according to data compiled by the National Clearing Company of Pakistan Limited.
