KARACHI: Pakistan stocks gained 520 points on Monday to celebrate resumption of IMF talks for loan program.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 46,073 points from last Friday’s closing of 45,553 points, showing a gain of 520 points.
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Analysts at Arif Habib Limited said the PSX celebrated the resumption of successful IMF Talks which helped the bench mark KSE-100 to open in the green zone.
Investor participation remained intact across the board which helped the index to remain in the green zone throughout the day, hefty volumes were witnessed in the 3rd tier stocks.
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The Index closed at 46,073.25 up by 520.23 points (+1.14 per cent DoD). Sectors contributing to the performance include Fertilizer (+156.9 points), Banks (+72.0 points), Technology (+58.4 points), Chemicals (+53.1 points) and Power (+44.0 points)
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Volumes increased from 217.6 million shares to 368.8 million shares (+69.5 per cent DoD). Average traded value also increased by 82.4 per cent to reach $ 51.9 million as against $ 28.5 million.
Stocks that contributed significantly to the volumes are HUMNL, TELE, WTL, GTECH and GGL.
