KARACHI: Pakistan equities gained 395 points on Monday to welcome the Year 2023 with trading in green on the first day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended 40,816 points from previous day’s closing of 40,421 points, showing a gain of 395 points.
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Ali Najib, analyst, at Topline Securities Limited said Pakistan equities welcomed Calendar Year 2023 on a positive note.
The KSE-100 index opened in a green zone, stayed positive almost throughout the day and eventually settled at 40,816 (+395 points; up 0.98 per cent).
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The aforesaid buying momentum can be attributed to the market expectation regarding some break through on the circular debt front by passing on Gas tariff to meet IMF pre-condition for the resumption of dialogues to unlock next tranche.
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During the day, Fertilizer, E&P & Banking sector stocks contributed positively to the index where ENGRO, PPL, UBL, EFERT & FFC contributed 260 points to the index. On the flip side, HUBC, LUCK and SYS saw some profit taking as they lost 65 points collectively, today.
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Over 242 million shares were traded during the day at the bourse while total value clocked in at Rs7.3 billion. PPL led the volumes chart today with trading of 14.9 million shares in it, today.
