KSE-100 extends gains ahead of FATF outcome

— AFP/File
— AFP/File
  • Benchmark index settles at 45,821.40 on Thursday with an increase of 321.94 points.
  • Positive news regarding the expected exclusion of Pakistan from FATF’s grey list impacts investment climate.
  • Overall trading volumes rises to 338.3 million shares.

KARACHI: The Pakistan Stock Exchange (PSX) extended gains on Thursday as reports of positive progress in talks between Pakistan and the International Monetary Fund (IMF) coupled with a decline in the September current account deficit strengthened investors’ sentiment.

Positive news regarding the expected exclusion of Pakistan from the Financial Action Task Force’s (FATF) grey list coupled with a host of encouraging financial results positively impacted the investment climate.

Benchmark KSE-100 index intra-day trading curve. — AFP/File
Benchmark KSE-100 index intra-day trading curve. — AFP/File

The benchmark KSE-100 Index recorded an increase of 321.94 points or 0.71% to settle at 45,821.40 points.

Earlier, trading began on a positive note and the KSE-100 index remained mostly in the green zone throughout the day, however, the index failed to sustain the momentum till the end of the session.

On the financial front, Kohat Cement announced earnings per share (EPS) of Rs6.96 for the quarter ended September 30, 2021, compared to an EPS of Rs2.52 in the same period of the last year. The company posted a profit-after-tax of Rs1.4 billion during the first quarter of FY22.

Meanwhile, in the oil sector, National Refinery, Attock Refinery and Shell Pakistan released their quarterly results posting handsome profits for the quarter under review.

During the session, shares of 359 listed companies were traded. At the end of the session, 158 stocks closed in the green, 185 in the red, and 16 remained unchanged.

Overall trading volumes increased to 338.3 million shares compared with Wednesday’s tally of 308.2 million. The value of shares traded during the day was Rs13.4 billion.

Bank of Punjab was the volume leader with 25.6 million shares, gaining Rs0.16 to close at Rs8.91. It was followed by Telecard Limited with 24.3 million shares, gaining Rs0.40 to close at Rs17.13, and Hum Network Limited with 23.9 million shares, gaining Rs0.05 to close at Rs6.55.

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