Pakistan stocks gain 749 points on hopes of IMF program

Pakistan stocks gain 749 points on hopes of IMF program

KARACHI: Pakistan stocks gained 749 points on Tuesday on expectations of resumption of loan program of International Monetary Fund (IMF).

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 42,526 points from previous day’s closing of 41,777 points, showing a gain of 749 points.

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Analysts at Arif Habib Limited said that bulls triumphed the trading session at PSX on Tuesday June 21, 2022.

KSE-100 index remained in the green zone throughout the day as value buying was witnessed across the board.

“The investors gained confidence in expectation of resumption of the IMF Program,” they added.

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Volumes remained healthy in the main board.

Sectors contributing to the performance include Technology (+136.6 points), E&P’s (+95.2 points), Cement (85.9 points), Banks (+76.3 points) and Fertilizer (+72.2 points).

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Volumes increased from 162.1 million shares to 300.6 million shares (+85.4 per cent DoD). Average traded value also increased by 92.9 per cent to reach US$ 44.8 million as against US$ 23.2 million.

Stocks that contributed significantly to the volumes are TPLP, PRL, CNERGY, HUMNL and UNITY.

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