Stocks add 87 points amid falling volume

The Pakis-tan Stock Exchange (PSX) exhibited on Wednesday a sideways trading pattern for the third consecutive day before closing the session on a slightly higher note. Topline Securities said investors kept waiting for a clear market direction owing to the absence of any significant catalysts. According to Arif Habib Ltd, the KSE-100 index recorded marginal gains, further cementing its position above the 46,000-point level. Blue-chip names like Oil and Gas Development Company Ltd, Pakistan Petroleum Ltd, Fauji Fertliser Company Ltd and Pakistan State Oil Company Ltd performed well. Meanwhile, the rupee continued gaining strength for the 16th straight session and hit 288.70 versus the dollar. It’s up 6.4 per cent from its recent low. The brokerage added that it’s looking forward to the upside expansion in Thursday’s session, causing a strong close to the ongoing week.