KARACHI: Pakistan equities have recorded jump of 636 points on Monday on reports of fund inflow from Asia Infrastructure Bank (AIIB).
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,901 points from last trading of 42,265 on November 08, 2022, showing a gain of 636 points.
READ MORE: Pakistan equities extend gain amid inflows expectations
The stock market was remained closed on November 09, 2022 due to public holiday announced by the government on the occasion of Iqbal Day.
Analysts at Topline Securities said that Pakistan equities had witnessed a bullish momentum during the day. The KSE-100 index initially opened in a green zone, stayed positive throughout the day and eventually settled at 42,901 for the day.
READ MORE: Pakistan stocks up 191 points on inflows expectations
The aforesaid sentiment is attributed to easing off on the global energy commodity front where international oil and coal prices came down which lured investors’ interest toward cyclical stocks especially listed construction sector.
In addition to this, finance minister’s announcement of arrival of Asia Infrastructure Investment Bank’s (AIIB) co-financing of US$500 MILLION (under Building Resilience with Active Counter-cyclical Expenditure (BRACE) program of ADB) by the end of the month also supported market sentiment.
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During the day, Tech, Bank & E&P sector stocks contributed positively to the index where TRG, MEBL, OGDC, PPL & BAFL added 278 points, cumulatively. On the flip side, PSEL, RMPL and FATIMA have witnessed some profit taking as they lost 52 points collectively, today.
Over 293 million shares traded today at the bourses while total value clocked in at Rs 10.2 billion. HASCOL led the volumes chart today with trading of 41.5 million shares in it, during the day.
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