KARACHI: The stocks gained 263 points on Friday as investors optimistic about IMF’s executive board meeting on January 12, 2022.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,345 points as against 45,082 points, showing an increase of 263 points.
READ MORE: IMF Board to approve $1.059bn by Jan 12, 2022: Tarin
Analysts at Arif Habib Limited said that the index closed in the green zone today as investors became optimistic about IMF’s Executive Board meeting on January 12.
Profit taking was witnessed in the first trading hour as coronavirus positivity ratio exceeded 2 per cent in a single day for the first time since October 14 last year.
READ MORE: IMF outlines actions for Pakistan to release $1.059bn
Fertilizer sector remained in the limelight due to expectation of price hike of urea in the market. Cement sector remained under pressure due to the uptick in international coal prices. Activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks.
Sectors contributing to the performance include Banks (+108 points), Fertilizer (+98 points), Power (+46 points), E&P (36 points) and Engineering (+11 points).
READ MORE: IMF intervention to add economic miseries of Pakistan
Volumes decreased from 345.2 million shares to 242.3 million shares (-29.8 per cent DoD). Traded value also decreased by 40.1 per cent to reach US$ 44.9 million as against US$ 74.9 million.
Stocks that contributed significantly to the volumes include TELE, WTL, TRG, UNITYR3 and SILK.
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