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Bullish trend maintains upward trajectory at PSX

KARACHI: The KSE-100 index on the Pakistan Stock Exchange continued the upward trajectory on Thursday closing in above the 40,000 benchmark level after intra-day trading.
Yesterday, the bourse closed at 40,270.52 points for the first time in the last ten months. The upward surge was due to increasing investor confidence and improved economic conditions.
The upward trend continued on Thursday as the bourse closed in on 40,641.10 points. The bourse opened at 40,494.97 and witnessed a change of 370.52 (0.97%).
The highest level in intra-day trading reached at 40,809.31 and the lowest was on 40,270.52 points. The total volume of scripts was 326.95 million worth over Rs16.1 billion.
Meanwhile, KSE-30 index closed at 18.571.51 after witnessing an increase of 171.48 (0.93%). The bourse opened at 18,518.24 points. The total volume of scripts was estimated at 177.5 million.
The top active performers were Unity Foods (0.61%), Fauji Cement Company Ltd (5.05%), Maple Leaf Cement Factory (-0.82%), followed by K-Electric (2.16%) and TRG Pakistan (1.58%).
The top advancers were Grays Leasing Ltd (33.45%), J.A. Textile Mills (16.88%), Dewan Farooque Motors (11.65%), followed by Dewan Sugar Mills (11.63%) and Quetta Textile Mills Ltd (11.53%).
The main increase is been attributed that consumer prices for the month of November have risen by 12.67% and are estimated by 12.49% by year end.
International services firm Moody’s also upgraded Pakistan’s economic outlook from ‘negative’ to ‘stable’ and affirmed a B3 rating. 
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