KARACHI: Trading started off on the Pakistan Stock Exchange with a strong momentum on Monday, thanks to positive economic triggers.

Arif Habib Ltd said the benchmark index opened in the green zone and moved within the same territory throughout the day. Main reasons for the upbeat mood on the bourse included the favourable expectation with respect to monetary inflows from Saudi Arabia and China as well as attractive valuations of stocks.

Third-tier stocks received respectable volumes while overall volumes remained robust.

“We recommend that investors should avail any downside as an opportunity to buy in cement, technology and exploration and production sectors,” said JS Global.

As a result, the KSE-100 index settled at 42,047.36 points, up 191.05 points or 0.46 per cent from the preceding session.

The trading volume decreased 19.4pc to 240.2 million shares while the traded value went down 0.2pc to $24.6m on a day-on-day basis.

Stocks contributing significantly to the traded volume included WorldCall Telecom Ltd (43.5m shares), Dewan Motors Ltd (17.7m shares), Hascol Petroleum Ltd (16.6m shares), Sui Southern Gas Company Ltd (14.8m shares) and TPL Properties Ltd (11.9m shares).

Sectors that contributed to the index performance were technology and communication (36.9 points), exploration and production (31.4 points), oil marketing (23.4 points), power generation and distribution (21.5 points) and commercial banking (16.8 points).

Companies registering the biggest increase in their share prices in absolute terms were Khyber Tobacco Company Ltd (Rs30.22), Bhanero Textile Mills Ltd (Rs17.94), Hinopak Motors Ltd (Rs14.99), AKD Hospi­tality Ltd (Rs13.08) and Ser­vice Industries Ltd (Rs10.79).

Shares that declined the most in rupee terms were Siemens Pakistan Engi­neering Ltd (Rs38.72), Ismail Industries Ltd (Rs33.25), Shield Corpor­ation Ltd (Rs21.63), Pakistan Engineering Company Ltd (Rs20) and Premium Textile Mills Ltd (Rs18.99).

Foreign investors rem­ained net sellers as they offloaded shares worth $0.78m.

Published in Dawn, November 8th, 2022

Opinion

Editorial

Kurram ceasefire
Updated 26 Nov, 2024

Kurram ceasefire

DESPITE efforts by the KP government to bring about a ceasefire in Kurram tribal district, the bloodletting has...
Hollow victory
26 Nov, 2024

Hollow victory

THE conclusion of COP29 in Baku has left developing nations — struggling with the mounting costs of climate...
Infrastructure schemes
26 Nov, 2024

Infrastructure schemes

THE government’s decision to finance priority PSDP schemes on a three-year rolling basis is a significant step...
Anti-women state
Updated 25 Nov, 2024

Anti-women state

GLOBALLY, women are tormented by the worst tools of exploitation: rape, sexual abuse, GBV, IPV, and more are among...
IT sector concerns
25 Nov, 2024

IT sector concerns

PRIME Minister Shehbaz Sharif’s ambitious plan to increase Pakistan’s IT exports from $3.2bn to $25bn in the ...
Israel’s war crimes
25 Nov, 2024

Israel’s war crimes

WHILE some powerful states are shielding Israel from censure, the court of global opinion is quite clear: there is...