PSX rallies as tech scrips attract investors

The stock market soared on Monday in a session marked by an uptick in trade volumes. Topline Securities said the KSE-100 index commenced the week on a positive note and stayed in the green zone throughout the trading hours before settling on the higher side. The brokerage attributed the rally to the rejuvenated buying interest in the technology sector. Systems Ltd remained the “darling stock” owing to its attractive price of less than Rs400 apiece. In addition, the recent announcement by Engro Corporation Ltd about the in-principle understanding with a potential acquirer for the divestment of selective assets of thermal energy brought the stock under the radar of investors. Furthermore, anticipated gas price hikes to fulfil the condition of the International Monetary Fund and a decline in the international oil price kept the energy sector in the limelight. As a result, the KSE-100 index settled at 46,627.08 points, up 394.49 points or 0.85 per cent from the preceding session.