KSE gains 50 points on fresh buying at weekend

KARACHI: Pakistani stocks gained on Friday, but volume remained low and dealers said investors were awaiting some positive trigger to take aggressive positions in the market.

"There is not much happening at the moment and the corporate result season is also over, so a positive trigger is now required to push up the market," said Mohammed Sohail, chief executive of Topline Securities.

The Karachi Stock Exchange's benchmark 100-share index was 50.27 points, or 0.42 percent, higher at 12,019.32 by 4:15 p.m.

The index was not updated yet for the final close, originally scheduled for 4:30 p.m., due to a technical problem at the exchange, an official said.

Volume was only 39.66 million shares, compared with 48.73 million shares traded on Thursday.

Another dealer said investors also preferred to stay away from the market which was closed for three days for the Muslim festival of Eid al-Azha. (Reuters)