KARACHI: The Pakistan Stock Exchange closed in the green, as the chemical and power sectors recovered as a consequence of company performance and solid dividend announcements.
According to Ahsan Mehanti of Arif Habib Corp, the equities finished higher on the back of solid financial performance and record revenues in Roshan Digital Accounts (RDAs).
“Higher global crude oil prices, buoyant export statistics, and news of MSCI’s assessment of adding Pakistan to the FM 100 Index all played a part in the euphoric finish.”
The Pakistan Stock Exchange KSE-100 shares Index rose 0.23 percent, or 106.7 points, to 45,947.95 points. The KSE-30 Index rose 0.2%, or 36.53 points, to end at 17,962.8 points.
There were 364 scrips active, with 153 advancings, 184 declinings, and 27 remaining stables.
The ready market volume was 187.37 million shares, compared to the previous trading session’s turnover of 150.1 million shares.
According to Waqar Iqbal of JS Global, trading activity remained lackluster as the market looked for a new trigger to move away from present levels. “Slight corrections may be anticipated in the future, and we encourage investors to book gains at present prices.”
The MSCI release, which is scheduled for Wednesday, is expected to be a non-event for the market.
Premier Sugar gained Rs39.5 to end at Rs577/share, while Sapphire Fiber gained Rs34.86 to close at Rs955/share.
Otsuka Pakistan, which lost Rs18.88 to end at Rs241.12/share, and Wah Noble, which lost Rs14.75 to close at Rs215.25/share, were the businesses that suffered the highest losses.
Hum Network had the greatest volume, with a transaction of 23.13 million shares. The stock gained 27 paisas to end at Rs7.77/share, followed by Engro Polymer, which gained Rs3.7 to settle at Rs61.21/share on a transaction of 14.7 million shares. WorldCall Telecom stayed third with a share turnover of 14.21 million. It dropped 3 paisas to Rs2.2/share.