The capital market on fourth consecutive session of the week on positive note and index recorded a sharp jump in excess of 450 points where activity recorded in cement, oil, chemical and banking stocks.
The Pakistan Stock Exchange index which has been largely quoted as KSE 100 index rose points to 457.21 closed at 46560 points.
Automobile shares were in the limelight because of the expected auto numbers which would likely to show double digit growth in its sales for the period of nine months ended March 31, 2018. Atlas Honda closed at Rs 563 per share and geared up by Rs 8.44.
The market recorded sharp gains on the expectation that the government to announce amnesty scheme for the Pakistanis who have parked there funds overseas. Under the scheme they can declare their offshore assets by declaring small amount of tax.
Oil sector was also in the buying chart especially the oil marketing companies because of the government’s decision to allow import of furnace oil to mitigate the load shedding in the country which has been stretched to seven to 11 hours. Pakistan State Oil was up by Rs 6.99 to Rs 337.56 and Shell Pak rose by Rs 5.94 to Rs 391.37 per share.