KARACHI: Pakistan stocks gained 743 points on Thursday owing to investors’ anticipation of approval of the release of ninth tranche under IMF loan.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended 42,466 points from previous day’s closing of 41,723 points, showing an increase of 743 points.
READ MORE: Pakistan equities gain 200 points amid optimism on IMF loan
Analysts at Arif Habib Limited said that the PSX continued its winning streak from the last 4 consecutive sessions witnessing yet another bull run today.
The benchmark KSE-100 opened in green zone and the bulls kept on driving the market throughout the day, and making an intraday high of 844.43 points owing to investor’s anticipation of approval for the release of ninth tranche of the IMF’s Extended Fund Facility during the ongoing negotiations.
READ MORE: Pakistan stocks witness bull-run on hopes of IMF tranche
Also the Pak Rupee continuing to strengthen against the US Dollar.
Healthy volumes in E&P were the result of investors active participation in pursuit of the resolution of gas circular debt. Hefty volumes were observed across the board.
READ MORE: Stocks jump by 720 points as Pakistan intends to adhere IMF conditions
Sectors contributing to the performance include Commercial Banks (+210.3 points), E&P’s (+152.7 points), Cement (+107.7 points), Fertilizer (+98.4 points), and OMCs (+13.1 points).
Volumes increased from 297.8 million shares to 367.4 million shares (+23.9 per cent DoD). The average traded value also increased by 9.7 per cent to USD 50.2 million as against USD 45.8 million.
READ MORE: Weekly Review: IMF talks outcome to set market direction
Stocks that contributed significantly to the volumes are WTL, HASCOL, OGDC, KEL and MLCF.