KARACHI: Bulls reigned supreme on the Pakistan Stock Exchange on Friday as investors expected the monetary policy committee to keep the interest rate flat in its Jan 24 meeting, according to Arif Habib Ltd.

Trading opened on a positive note and the benchmark stayed in the green zone throughout the day, although activity on the main board was gloomy. However, value buying was observed in the last trading hour owing to the beginning of corporate results season in the upcoming week.

As a result, the benchmark index added 192.31 points or 0.43 per cent from a day ago to close at 45,018.28 points.

Market participation decreased 30.7pc to 176.1 million shares while the value of traded shares went down 8.6pc to $40.1m.

Sectors contributing the highest number of points from the benchmark index included technology and communication (66.05 points), commercial banking (52.87 points), oil and gas exploration (16.05 points), textile (11.81 points) and power generation and distribution (11.1 points).

Stocks contributing significantly to the traded volume included TRG Pakistan Ltd (19.17m shares), Jahangir Siddiqui and Company Ltd (13.76m shares), WorldCall Telecom Ltd (12.56m shares), Cnergyico PK Ltd (7.17m shares) and Ghani Global Holdings Ltd (7.09m shares).

Shares contributing positively to the index included TRG Pakistan Ltd (41.44 points), Mari Petroleum Company Ltd (25.69 points), Bank AL Habib Ltd (23.19 points), Systems Ltd (18.66 points) and Allied Bank Ltd (15.84 points).

Stocks that took away the maximum number of points from the index included Meezan Bank Ltd (13.45 points), Oil and Gas Development Company Ltd (8.25 points), Engro Fertilisers Ltd (6.53 points), International Industries Ltd (4.59 points) and ICI Pakistan Ltd (4.32 points).

Stocks recording the biggest increases in percentage terms included Yousaf Weaving Mills Ltd, which went up 4.69pc, followed by Allied Bank Ltd (4.49pc), Ibrahim Fibres Ltd (4.08pc), TRG Pakistan Ltd (3.87pc) and Gul Ahmed Textile Mills Ltd (3.45pc).

Foreign investors were net sellers as they offloaded securities worth $0.013m.

Published in Dawn, January 22nd, 2022