August 02, 2023 (MLN): Pakistani stock market continues to ride the wave of positivity, with the KSE-100 Index gaining 414 points or 0.86% DoD so far [12:36 PST], currently trading at the 48,644pts.
Sectors propping up the Index were Oil & Gas Exploration Companies with 113 points, Fertilizer with 80 points, Technology & Communication with 48 points, Commercial Banks with 45 points and Refinery with 27 points.
The most points added to the Index was by OGDC which contributed 70 points followed by ENGRO with 58 points, MCB with 27 points, SYS with 24 points and PPL with 23 points.
Sector-wise, the Index was let down by Power Generation & Distribution with 17 points, Cement with 8 points, Engineering with 4 points.
The most points taken off the Index was by HUBC which stripped the Index of 14 points followed by MEBL with 8 points, KEL with 4 points, COLG with 4 points and DGKC with 3 points.
Yesterday, the Pakistani government held its first-ever mineral summit “Pakistan Minerals Summit” to explore and capitalize on the vast potential of the minerals industry.
Prime Minister Shehbaz Sharif highlighted the example of Middle Eastern states in tapping and developing mineral wealth.
Army chief General Syed Asim Munir at the summit stated that foreign investors would be an integral part of realizing the potential of Pakistan’s estimated $6 trillion worth of natural deposits.
“There are vast opportunities for exploration in our country, and we will make sure that these opportunities are realized through joint efforts,” Munir added.
Saudi vice minister for mining affairs, Engineer Khalid Bin Saleh Al-Mudafiq, who was also present at the summit, said the Kingdom wanted to enable the development of a responsible mineral value chain in Pakistan.
“Let us unite our efforts to harness the full potential of Pakistan’s, Saudi Arabia’s, and the region’s mineral sector,” the minister said.
“Together, we can pave the way from dust to development, transforming our nations into thriving hubs of mineral resources, economic prosperity, and sustainable growth, I look forward to celebrating soon the eminent success of the Pakistan mining sector.”
Meanwhile, on the global front, Fitch Ratings downgraded the United States of America's Long-Term Foreign-Currency Issuer Default Rating (IDR) to 'AA+' from 'AAA'.
Top Ten By Volume
|
Symbol |
Volume |
|
CNERGY |
71,628,017 |
|
BOP |
37,421,000 |
|
PRL |
20,363,673 |
|
OGDC |
18,359,791 |
|
WTL |
11,068,806 |
|
TELE |
10,422,249 |
|
PPL |
9,969,305 |
|
KEL |
9,374,123 |
|
TRG |
7,375,520 |
|
EPCL |
5,008,823 |
Copyright Mettis Link News
Posted on: 2023-08-02T12:38:00+05:00
