KARACHI: The Pakistan equity market continued to remain in the green territory on Wednesday, as China agreed to roll over a $2.3 billion loan and extended the additional assistance of $2.5 to $2.8 billion, which triggered the sentiments at the bourse, analysts said.

An analyst at Pearl Securities said the activities were also seen in the cement sector, amid the initiation of export to the US for the first time in Pakistan’s history.

“However, the rupee continued to depreciate in the interbank market.”

The Pakistan Stock Exchange KSE-100 shares Index gained 0.94 per cent, or 384.11 points, to close at 41,438.79 points. The KSE-30 shares index gained 1.07 per cent, or 167.13 points, to close at 15,815 points.

As many as 337 scrips were active, of which 175 advanced, 131 declined and 31 remained unchanged. The ready market volumes stood at 141.7 million shares, compared with the turnover of 120.12 million shares in the last trading session.

An analyst at Arif Habib Limited said the bullish momentum was witnessed at the PSX due to the expectation of Pakistan’s exclusion from the grey list of the Financial Action Task Force.

“The KSE-100 Index stayed in the green zone, as the investors opted for value hunting in the oil marketing companies (OMCs), cement and E&P sectors.”

Ahsan Mehanti at Arif Habib Corporation said that the stocks recovered on investors’ speculations ahead of the results of the FATF plenary meeting discussions by the foreign minister, which is expected to decide about the exit from the grey list.

“China’s agreement to rollover $2.3 billion lending and additional assistance of $2.5 to $2.8 billion for assistance to the forex reserves supported the index to close near the day’s high.”

The companies that reflected the highest gains included Colgate Palmolive, up Rs88.75 to close at Rs2,200/share; and Sapphire Fibre, up Rs79.9 to close at Rs1,179/share.

The companies, which reflected the most losses included Premium Textile, down Rs57.72 to close at Rs718.6/share; and Unilever Foods, down Rs600 to close at Rs24,000/share.

The highest volumes were witnessed in TPL Properties with a turnover of 17.35 million shares. The scrip gained 36 paisas to close at Rs19.13/share; followed by Balochistan Glass with a turnover of 9.8 million shares. It shed 19 paisas to close at Rs8.32. Pakistan Refinery remained the third with a turnover of 8.9 million shares. It gained nine paisas to finish at Rs17.24/share.