Friday saw a little increase in shares as investors cheered the long-awaited International Monetary Fund review of the loan program (IMF).
According to Topline Securities, the increase in share prices was seen in the second half of trading as a result of the IMF chief allegedly giving the premier a promise that the lender’s team will soon visit Pakistan for the review.
Volumes increased strongly across the board, according to Arif Habib Ltd. In anticipation of the resolution of the circular debt in the gas sector, significant activity was observed in the refining, exploration, and production sectors. Ahead of the upcoming results season on the stock exchange, stock prices also increased.
As a result, the KSE-100 index settled at 41,007.52 points, up 290.78 points or 0.71 percent from the preceding session.
182 million shares were traded, a 62.8 percent increase. On a daily basis, the traded value increased by 119.5 percent to $29.9 million.
Stocks contributing significantly to the traded volume included:
- Cnergyico PK Ltd (27.9m shares)
- K-Electric Ltd (17.6m shares)
- Pakistan Refinery Ltd (16m shares)
- Pakistan Petroleum Ltd (10.5m shares)
- WorldCall Telecom Ltd (8.1m shares)
Sectors contributing the most to the index performance were:
- Exploration and production (118 points)
- Technology and communication (81 points)
- Miscellaneous (64.9 points)
- Fertilizer (62.3 points)
- Investment banking (35.4 points)
Companies registering the biggest increases in their share prices in absolute terms were:
- Pakistan Services Ltd (Rs130)
- Premium Textile Mills Ltd (Rs44.01)
- Shield Corporation Ltd (Rs19.65)
- Attock Refinery Ltd (Rs11.03)
- National Refinery Ltd (Rs10.66)
Companies that recorded the biggest declines in their share prices in absolute terms were:
- Nestle Pakistan Ltd (Rs209.90)
- Sapphire Fibres Ltd (Rs101.07)
- Mari Petroleum Company Ltd (Rs25.43)
- Siemens Pakistan Engineering Ltd (Rs20)
- Gadoon Textile Mills Ltd (Rs18.75)
Foreign investors were net buyers as they purchased shares worth $0.05m.