0 3 min 1 yr

2022-02-02 18:47:09

Buyers can seen sitting in the principle corridor of the Pakistan Inventory Change. — AFP/File
  • KSE-100 index features 444.65 factors to settle at 46,119.15.
  • Buyers stay optimistic concerning the revival of IMF programme.
  • Encouraging monetary outcomes add gas to the uptrend.

KARACHI: Bullish momentum prevailed on the Pakistan Inventory Change on Wednesday as market contributors have been optimistic concerning the revival of Worldwide Financial Fund (IMF) mortgage programme.

The market staged a spectacular rally, including OVER 400 factors to the benchmark KSE-100 index. It prolonged the bull run for the fourth consecutive session and tossed the index above 46,000 factors.

Bulls have been seen dominating the market all through the day, because the IMF board is about to evaluate Pakistan’s case at the moment after the nation fulfilled all prior circumstances set by the Fund.

Furthermore, encouraging monetary ends in the company sector added gas to the uptrend.

On the shut, the benchmark KSE-100 index gained 444.65 factors, or 0.97%, to settle at 46,119.15 factors.

Benchmark KSE-100 index intra-day trading curve. — PSX data portal
Benchmark KSE-100 index intra-day buying and selling curve. — PSX knowledge portal

In its post-market commentary, Arif Habib Restricted famous that bullish momentum was witnessed at the moment attributable to uplifted optimism in the direction of IMF announcement.

The IMF’s government board will take the sixth evaluate of the $6 billion Prolonged Fund Facility (EFF) for Pakistan on the agenda in its assembly scheduled for Wednesday (February 2).

“The market opened on a positive note and stayed in the green zone throughout the day,” it mentioned.

The brokerage home added that in banking sector, Financial institution AlFalah introduced 4QCY21 end result in step with market expectations.

“Activity continued to remain side-ways as market witnessed hefty volumes in the third tier stocks,” AHL said.

Sectors contributing to the efficiency included banks (+105.6 factors), exploration and manufacturing (+80.7 factors), cement (+63 factors), textile composite (+35.1 factors) and oil advertising and marketing corporations (+25.3 factors).

Shares of 381 corporations have been traded in the course of the session. On the shut of buying and selling, 269 scrips closed within the inexperienced, 91 within the purple, and 21 remained unchanged.

Total buying and selling volumes rose to 360.8 million shares in contrast with Tuesday’s tally of 312.50 million. The worth of shares traded in the course of the day was Rs10.93 billion.

Hum Community Restricted was the quantity chief with 48.78 million shares traded, gaining Rs0.45 to shut at Rs7.65. It was adopted by Telecard Restricted with 28.28 million shares traded, gaining Rs0.77 to shut at Rs18.42, and Treet Company with 26.31 million shares traded, gaining Rs1.37 to shut at Rs42.31.

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