KARACHI: Pakistan’s stocks gained 790 points on Monday owing to successful negotiations between the government and the banned outfit.
The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) ended at 46,975 points from last Friday’s closing of 46,185 points.
Analysts at Topline Securities said that Pakistani equities started the week on a positive note and closed the day at 46,946.21.
Sentiments turned positive as the government announced on Sunday that it had reached an agreement with Tehreek-e-Labbaik Pakistan (TLP) to end a 10-day standoff with the latter.
Sentiments were further buoyed after Prime Minister Imran Khan rejected the Oil and Gas Regulatory Authority (OGRA) and Finance Ministry’s proposals to increase the prices of petroleum products.
Slight profit-taking was witnessed near the close of the session after the monthly CPI clocked in at 9.2 per cent YoY for the month of October 2021, which was above market expectations.
The total volume and value traded in the KSE All Share Index clocked in at 430.01 million shares and Rs14.78 billion respectively.
The volume leader for today was WTL with 53.86mn shares traded during the session.
