Pakistan stocks up 89 points in lackluster trading

Pakistan stocks up 89 points in lackluster trading

KARACHI: Pakistan stocks ended up 89 points on Friday in a lackluster trading during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,630 points from previous day’s closing of 41,541 points, showing an increase of 89 points.

READ MORE: Pakistan stocks up 243 points on positive sentiments

Analysts at Arif Habib Limited said that the market traded in the green zone as the fertilizer sector remained in the limelight due to price increase. Investors hunted for value buying throughout the day.

READ MORE: Pakistan stocks shed 468 points as banking shares fall

The Consumer Price Index (CPI) for the month of June 2022 clocked in at 21.32 per cent YoY (6.43 per cent MoM). This takes average inflation for the fiscal year 2021/2022 to 12.09 per cent YoY compared to 8.90 per cent in the preceding fiscal year. It was the highest YoY inflation post re-basing of CPI basket.

READ MORE: Pakistan stocks shed 113 points on tough conditions

Sectors contributing to the performance include Banks (+94.5 points), Fertilizer (+50.0 points), OMC’s (+13.0 points), Textile (+6.1 points) and Real Estate Investment (2.7 points).

Volumes decreased from 192.9 million shares to 154.0 million shares (-20.1 per cent DoD). Average traded value also increased by 40.6 per cent to reach US$ 19.7 million as against US$ 33.1 million.

Stocks that contributed significantly to the volumes are AGL, ANL, GTECH, TPLP and HUMNL.

READ MORE: Pakistan stocks gain 827 points on Chinese funds

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