November 22, 2022 (MLN): The benchmark KSE-100 experienced an upward trajectory on Tuesday as buying activity was witnessed during the session on optimism ahead of the SBP policy announcement this week.
As a result, the KSE-100 index loses 167.43 points (0.39% DoD) to close the session at 42,928.62, marking a high of 43,076.45 during the day.
While speaking to MG link news, Arif Habib Commodities Chief Executive Officer Ahsan Mehanti said, a positive session at the stock market is owing to upbeat data on the current account deficit which narrowed by 47% YoY for Jul-Oct’22.
He further said that Finance Minister Ishaq Dar’s assurance over the settlement of maturing Sukuk dollar bonds next month played a catalyst role in the bullish close.
Ismail Iqbal Securities Head of Research Fahad Rauf said, "Pakistan equities posted positive session today owing to decline in international commodity price".
By the session’s end, the total volumes of the KSE-100 index stood at 82.38mn shares, increased by 24.27% DoD from 62.39mn shares traded on Monday.
In terms of sectors, most of the positive contributions came from fertilizer, technology, cement, commercial banks, and investment banks which cumulatively added 158.07 points to the index tally by the day’s end.
Out of 93 companies’ shares traded today 52 companies recorded gains and 37 companies sustained losses and four companies’ share remains unchanged.
Meanwhile, the volume leaders on the benchmark index were PAEL (15.30mn), UNITY (14.08mn), TRG (8.53mn), CNERGY (5.61mn), and SNGP (4.85mn).
The scrips which gained the most during the session included: INDU (5.41%), SYS (3.03%), COLG (0.30%), ENGRO (2.22%), and THALL (1.02%). On the other hand, the stocks that emerged as net losers during the day included GADT (3.74%), MTL (0.82%), HCAR (1.76%), ICI (0.33%), and FCEPL (2.95%).
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