Positive sentiments help Pakistan stocks to gain 63 points

Positive sentiments help Pakistan stocks to gain 63 points

KARACHI: Pakistan stocks on Monday gained 63 points as positive sentiments prevailed during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,857 points from last Friday’s closing of 41,794 points, showing a gain of 63 points.

READ MORE: Weekly Review: Foreign inflows to move Pakistan stocks

Analysts at Arif Habib Limited said that a positive session was recorded at the PSX to begin the week today.

The market opened in the green zone and traded with positive sentiments as bulls derived the index to make an intraday high of 497.90 points in hopes of getting the Staff Level Agreement (SLA) agreement signed between the government and IMF on Monday or Tuesday as stated by the finance minister.

READ MORE: KSE-100 Index ends up 208 points in bullish trading

The investors remained optimistic throughout the trading session as healthy volumes were witnessed across the mainboard while the E&P Sector remained in the limelight.

Sectors contributing to the performance include E&P’s (+208.1 points), OMCs (+24.0 points), Fertilizer (+14.9 points), Paper & Board (+4.3 points), and Textile Composite (+1.6 points).

READ MORE: Pakistan equities end up 227 points as investors hopeful of IMF program

Volumes increased from 272.8 million shares to 289.3 million shares (+6.1 per cent DoD). The average traded value also increased by 51.2 per cent to USD 36.5 million as against USD 24.11 million.

READ MORE: Pakistan stocks gain 24 points in mixed sentiments

Stocks that contributed significantly to the volumes are HASCOL, TELE, OGDC, WTL and TPLP.