Stocks edge up 374.37 points.


KARACHI -- The Pakistan Stock Exchange (PSX) on Monday began on a positive note and gained 374.37 points or 0.92 percent by 11.04am, and hit 41,222.90 points. In the previous week, the stock market witnessed massive fluctuations as it began on a negative note on Monday when the KSE100 share Index plunged by 824.70 points for profittaking sessions before Christmas holiday amid absence of positive triggers but later on Thursday gained 799.47 points amid positive sentiments among traders. On weekly basis, the Index, on Friday, closed while obtaining 16.53 points as compared to previous Friday. On Friday, the stock market went into profitbooking and the KSE-100 index closed in the red by 279.26 points at 40,848.53. Mainly oil and gas marketing companies, exploration and production, power and cement sectors remained under pressure. Analysts had previously termed the previous week as a rollover week when investors would offload stocks bought earlier at attractive valuations. In addition to this, absence of positive triggers to guide market's direction also weighed on investor sentiment and spread pessimism for the...

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