KARACHI: The Pakistan Stock Exchange (PSX) closed the last session of the week on a positive note recovering the losses made in the previous session.
The indices moved uphill as trading resumed as positive sentiments prevailed at the exchange as State Bank of Pakistan slashed interest rates by 100 bps to seven percent yesterday.
According to the latest data published by State Bank of Pakistan (SBP), the country’s liquid foreign exchange reserves were $16.73 billion as of June 19. Pakistan received $500 million from the World Bank and Asia Development Bank (ADB) earlier this week.
Moreover, Pakistan has received $500 million from Asian Infrastructure Investment Bank (AIIB) bringing the total amount received from multilateral institutions this week to $1.725 billion. This was clearly reflected in the stock market which surged over increased investor optimism.
The KSE 100 index marked its intraday high of 34,028.77 appreciating by 319.14 points. It settled with a gain 229.86 points at 33,939.49 points. The lower bench KSE 30 index closed by 123.44 points (0.85%) and closed at 14,680.15 points.
The KMI 30 index was up by 520.18 points ending day at 54,584.65. While, the KSE All Share index gathered +81.06 points closing at 24,254.22.
Out of total shares traded, 150 advanced and 136 declined. The overall market volumes appreciated from 168.42 million shares in last session to 198.19 million shares as shares worth Rs 6.78 billion were traded during the day.
Maple Leaf Cement Factory Limited (MLCF +4.26%), Pakistan Refinery Limited (PRL1 -31.08%) and DG Khan Cement Company (DGKC +6.82%) led the volume chart. The scripts had 15.20 million shares, 13.03 million shares and 12.61 million shares traded, respectively.
The sectors adding gains to the KSE 100 index included fertilizer sector (+109.19 points), cement sector (+93.15 points) and pharmaceutical sector (+43.21 points). The cement sector gained 2.73 percent in cumulative market capitalization.
Company-wise, Fauji Fertilizer Company Limited (+57.03 points), Hub Power Company Limited (HUBC +42.90 points) and Engro Corporation Limited (ENGRO +39.80 points) were top points contributors.
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