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Two investors can be seen discussing in front of the digital stock board at the Pakistan Stock Exchange. — AFP/File
#KSE100 #soars #points #IMF #optimism
KARACHI: The Pakistan Stock Exchange (PSX) witnessed a severe rehabilitation on Friday, which increased by 3,648 points in the Benchmark’s SE -100 index, which reduced the geographical political tension and hope on the approval of the IMF’s Executive Board Extension Fund.
Among the sharp sales, after falling more than 5.0 % for the KSE -30 index for five consecutive minutes, after the market circuit breaker mechanism activated, trading was temporarily stopped for an hour.
The benchmark KSE-100 Index increased by 3,647.82 points, or 3.52 percent to 107,174.64 points, which increased by 103,526.82 points in the final session. The highest index of the day was 107,541.45 points, while the lowest level was recorded at 102,420.82 points.
“The stocks made a fastest, when investors expected investors in Pakistan India tension, as well as the Export Fund Facility (EFF), under the IMF’s Executive Board, with an IMF’s Executive Board,” said Arif Habib Limited analyst Ahsan Mahani. After
He said that the relaxation of the State Bank of Pakistan (SBP) policy and the increase in global crude oil prices worked as a key costume for the speed of the PSX. The KSE-30 index increased by 1,169.96 points or 3.72 percent, 31,478.14 points increased by 32,648.1 points.
Trade shares fell 137 million shares to 653.55 million shares to 516.295 million shares. The commercial value dropped from Rs 28.841 billion to Rs 35.437 billion. The market capitalization increased by Rs 12.53 trillion to Rs 12.89 trillion. Of the 441 companies operating in the session, 300 closed green, 99 and 42 changed in red.
Topline securities analyst Nabil Aaron said the KSE -100 index recovered recounts and stopped (3.5 % increase) at the level of 107,175, recovering some of the previous days’ losses. The recovery was due to hope at the IMF Executive Board meeting, which is scheduled to consider the EFF program, where the market is expected to be smooth. The overall decline in cross -border enmity also stimulates investors’ sentiments.
According to the traded price, PSO (Rs 1.97 billion), Mari (Rs 1.82 billion), OGDC (Rs 1.67 billion), SNGP (Rs 1.63 billion), PPL (1.22 billion rupees), FFC (1.1.17 billion) rupees (1.1.17 billion) rupees (1.1.17 billion).
High positive contributions to the index were obtained from fate, Mari, Hub C, HBL, FFC, PPL, OGDC, Engrooh, Efurt and PSOs, as they supported +1,923 points as a whole.
PIA Holding Company Limited B recorded the highest increase, which increased to Rs 703.20 to Rs 7,735.23 per share, followed by Nestlé Pakistan Limited, which increased to Rs 150.31 to Rs 7,119.15 per share. Unilever Pakistan Foods Limited noted a significant reduction, which was reduced by Rs 107.87 to Rs 21,972.88 per share. Superintendent Technologies Limited followed this, which closed at Rs 64.78 to Rs 780 per share.
JS Global analyst Mohammad Hassan Athar said that after the sale of Thursday, the absence of new developments was pleased with the sentiments of investors, which affected drone strikes. Prior to the IMF Executive Board meeting, the power of the initial market was further supported by hope. “Depending on the geographical political progress and the decisions of the IMF, moving forward, the market fluctuations can continue, but if external factors become stable, positive emotions can remain,” he said.
World Calle Telecom was the volume leader with 47.087 million shares, closing more than 6 bucks. Following this, with 33.59 million shares, Kanjarjico PK closed for Rs 6.42 per share by 70 money.
Other important stocks of business include Sui South Gas, Bo Punjab, Pak Refinery, PIA Holding Company, SUI North Gas, K Electric Limited, Maple Leaf and Cohinor Spinning. In the futures market, 321 companies recorded the trade, of which 267 increased, 52 declined and 2 were unchanged.
