KARACHI: The Pakistan stocks closed in the green territory on Tuesday, where stability was seen on the reports of likely exclusion of Pakistan from the grey list of the Financial Action Task Force (FATF), boosting the investors’ confidence.
An analyst at Pearl Securities said that the investors’ confidence got a support on news inflow of Pakistan likely to come out of the Financial Action Task Force’s (FATF) grey list.
“However, the rupee closed at an all-time low in the interbank market, marking 205 levels. Going forward, we expect the market to move both ways as the government is eyeing to repeat the cycle of petroleum and electricity price hike to meet the International Monetary Fund (IMF) conditions. Therefore, we recommend our investors to book profits at a higher level,” he added.
The Pakistan Stock Exchange KSE-100 shares Index gained 0.43 per cent, or 174.75 points, to close at 41,054.68 points. The KSE-30 shares Index gained 0.51 per cent, or 79.91 points, to close at 15,647.87 points.
An analyst at Arif Habib Limited said that a positive session was observed at the market due to expectations of Pakistan’s exclusion from the grey list of FATF.
“The KSE-100 Index stayed in the green zone as investors opted for value hunting in the oil marketing companies, E&P and cement sectors. Volumes remained sluggish in the main board whereas third tier stocks witnessed healthy volumes,” he added.
As many as 315 scrips were active of which 163 advanced, 128 declined and 24 remained unchanged.
The ready market volumes stood at 120.12 million shares, compared with the turnover of 163.79 million shares in the last trading session.
The companies which reflected the highest gains included Unilever Foods up Rs1,600 to close at Rs24,600/share, Siemens Pak up Rs45.02 to close at Rs645.33/share.
The companies which reflected the most losses included Rafhan Maize down Rs199 to close at Rs9,800/share, and Colgate Palm down Rs138.75 to close at Rs2,111.25/share.
The highest volumes were witnessed in Unity Foods Ltd with a turnover of 8.18 million shares. The scrip shed 12 paisas to close at Rs20.05/share, followed by K-Electric Ltd with a turnover of 7.42 million shares. It gained 2 paisas to close at Rs2.57/share. Hum Network remained the third with a turnover of 7.27 million shares. It gained 8 paisas to finish at Rs7.16/share.