- The Pakistan Stock Exchange KSE-100 shares Index gained 126.39 points, or 0.30 per cent to close at 42,211.64 points.
- Finance Minister Ishaq Dar’s statement that Pakistan will not seek debt restructuring from Paris Club also contributed to positive sentiments.
KARACHI: The Pakistan bourse closed higher on Monday as the market was anticipating a cut in the key policy rate besides the finance minister’s positive outlook regarding the economy, analysts said.
An analyst at Arif Habib Limited said the market opened in a green zone and remained positive throughout the session.
“In anticipation of a cut in the monetary policy meeting, the market stayed in the green zone. The main board volumes fell from the previous close as the investors’ participation remained sluggish, although the third-tier stocks remained in the limelight,” he added.
An analyst at Topline Securities said the KSE-100 Index traded in the positive zone during the trading session which can be attributed to Finance Minister Ishaq Dar’s statement that Pakistan will not seek debt restructuring from Paris Club and will fulfill all multilateral, international, and bond payments.
The Pakistan Stock Exchange KSE-100 shares Index gained 126.39 points, or 0.30 percent to close at 42,211.64 points. The KSE-30 shares Index gained 32.38 points, or 0.20 percent, to close at 15,889.47 points.
Ahsan Mehanti at Arif Habib Corp said that the stocks closed bullish led by selected scrips across the board as the investors weighed a likely status quo in the SBP policy announcement and stronger rupee.
“The World Bank allocated $2 billion, along with Asian Development Bank (ADB), which has also announced $2.5 billion for Pakistan for flood emergency operations which also impacted the overall sentiments,” he added.
As many as 336 scrips were active of which 161 advanced, 149 declined and 26 remained unchanged.
The ready market volumes stood at 240.19 million shares, compared with the turnover of 313.34 million shares in the last trading session.
The companies which reflected the highest gains included Unilever Foods up Rs449.50 to close at Rs25,949.50/share, and Nestle Pakistan up Rs100 to close at Rs58.50/share.
The companies which reflected the most losses included Colgate Palm down Rs40.01 to close at Rs2,059.99/share, and Gatron Industries down Rs30.50 to close at Rs378.50/share.
The highest volumes were witnessed in WorldCall Telecom with a turnover of 31.15 million shares. The scrip gained 3 paisas to close at Rs1.63/share, followed by Pak Elektron with a turnover of 27.14 million shares. It gained Rs1.21 to close at Rs17.45/share. TRG Pakistan remained the third with a turnover of 26.74 million shares. It gained Rs7.29 to close at Rs151.43/share.
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