Pakistan Stock Exchange (PSX) managed to gain 66.74 points to settle at 41716 points level in a volatile trade on Thursday, November 1.
The market opened in the red on Thursday and soon after the trade’s opening, the index fell. Within five minutes of the trade, the market shed over 160 points amid concerns over law and order situation across the country.
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During the volatile trading, the market moved both ways. The index hit the day highest at 41810 on the back of 161 points’ gain. The index dipped to the lowest level of the day at 41470 with a fall of 178 points.
Some 151,709,820 shares changed hands at the market on Thursday.
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Commenting on Thursday’s tade, senior analyst and chief executive officer of Arif Habib Corp Ahsan Mehnati said that stocks closed higher on institutional support as investor weigh political patch up in the national assembly and likely subdued CPI Inflation data for Oct’18 due tomorrow.
He added that OMCs and auto sector outperformed on government’s approval to raise petroleum products prices and surging local auto prices. Investor speculations on likely ease in economic uncertainty amid Prime Minister’s visit to China played a catalyst role in positive close at PSX, he added.