KARACHI: Pakistan stocks traded in green on Wednesday after a clarification issued by the finance division regarding review of IMF loan program.
The benchmark KSE-100 index ended 41,819 points from previous day’s closing of 41,540 points, showing a gain of 279 points.
Analysts at Arif Habib Limited said that the benchmark KSE-100 index finally ended its losing streak, trading in the green all day.
Following a clarification by the finance division regarding the ninth review of the IMF Program, the market opened in the green and maintained its positive trend throughout the day.
Investors gained confidence as mainboard volumes gained momentum and participation remained healthy, with third-tier stocks leading in terms of volume.
Sectors contributing to the performance include Cement (+54.1 points), Commercial Banks (+48.5 points), Technology & Communication (+48.4 points), Miscellaneous (+37.3 points), OMCs (+26.4 points).
Volumes increased from 131.7 million shares to 221.5 million shares (+68.2 per cent DoD). The average traded value also increased by 50.3 per cent to USD 26.2 million as against USD 17.5 million.
Stocks that contributed significantly to the volumes are DCL, WTL, KOSM, SSGC and HASCOL.