November 07, 2022 (MLN): The benchmark KSE-100 Index kicked off the week on a positive note as the index gained over 225 points [11:20 PST] and is currently being traded at 42,082.11 as investors cheered the news flows pertaining to expected inflows from Saudi Arabia and China.

Pakistan is expected to receive financing of $4.75 billion from China through commercial banks and deposits and $3bn from the Saudi Arabia, Finance Minister Ishaq Dar said on Friday.

He also added that China will soon start working on the high-speed rail project ML-1 from Karachi to Peshawar.

“We also received a positive response from Saudi Arabia and they will provide an oil facility of $1.2bn for one year and going to set up a petrol chemical plant at Gwadar,” he noted.

Sector-wise, technology & communication, oil & gas exploration, cement, and power generation have been added over 120 points so far.

Moreover, TRG, HBL, HUBCO, SYS, PPL, and LUCK witnessed notable buying. 

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Posted on: 2022-11-07T11:22:54+05:00