PSX opens week on positive note as index gains 355pts.
LAHORE -- Pakistan Stock Exchange witnessed positive trajectory on Monday, the first day of the week, as attractive valuation of large cap stocks tempted investors to make fresh entry in market. Ease off in global politics and trade wars further bolstered investors' confidence. As a result, market swelled up by 0.8 percent or 355 points, closing at 43,268 points.
Investors cheered development on Sui companies (SNGP and SSGC) post publication of the official announcement by Ogra notifying market based return formula that led both stocks to close at upper caps with traded volumes of 6m and 8m, respectively.
Large cap scrips, HBL, ENGRO, UBL, PPL, MCB, OGDC and PSO remained top index contributors in session. While, BOP, PAEL, SSGC, SNGP, and PACE remained volume leaders, with cumulative trading volume of 40m shares. Meanwhile, Dawood Lawrencepur (DLL) notified exchange regarding its boards' approval to invest Rs70m in proposed right issuance of Reon Energy Limited (DLL's wholly owned subsidiary).