The benchmark KSE-100 Index gaining 300.82 points (+0.70 percent
\n KARACHI
\nPakistan Stock Exchange (PSX) consolidated gains on Wednesday as the government started talks with the International Monetary Fund (IMF) for revival of the loan programme, with the benchmark KSE-100 Index gaining 300.82 points (+0.70 percent) to close at 43,026.88 points.
\nThe market opened on a negative note and switched between the green and red territories during the initial half an hour. Later, bulls made a comeback on the backdrop of the government\u2019s decision to rule till August 2023.
\nPakistan\u2019s talks with the International Monetary Fund (IMF) in Doha to revive the stalled multibillion-dollar loan programme gave support to the market.
\nHowever, the rupee continues to lose value closing at a historic low of $198.39 with higher international oil prices. The continuous depreciation of the rupee against the US dollar kept the market\u2019s gains in check.
\nThe KSE-100 Index moved in a range of 651.88 points, showing an intraday high of 43,161.43 and a low of 42,509.55 points. Among other indices, the KSE All Share Index gained 175.36 points (+0.6 percent) to close at 29,280.11 points, while KMI All Share Islamic Index gained 149.97 points (+0.72 percent) to close at 21,062.6 points.
\nA total of 355 companies traded shares in the stock exchange compared to 345 a session earlier. Out of traded companies, shares of 252 closed up, shares of 86 closed down while shares of 17 companies remained unchanged. Out of 91 traded companies in the KSE-100 Index, 65 closed up, 24 closed down and two remained unchanged.
\nThe overall market volumes increased by 80.89 million to 278.80 million shares. Total volumes traded for the KSE-100 Index increased by 20.84 million to 117.99 million shares.
\nThe number of total trades increased by 27,884 to 114,647, while the value traded increased by Rs0.73 billion to Rs6.91 billion. Overall market capitalisation increased by Rs42.58 billion.
\nAmong scrips, WTL topped the volumes with 27.08 million shares, followed by CNERGY (24.14 million) and TELE (23.22 million). Stocks that contributed significantly to the volumes included WTL, CNERGY, TELE, GGL, and PAEL, which formed around 36 percent of total volumes.
\nIn terms of rupee, NESTLE remained the top gainer and witnessed an increase of Rs89 (+1.56 percent) per share, closing at Rs5,790.
\nThe runner-up remained GATI, the share price of which climbed up by Rs28.76 (+6.85 percent) to Rs448.75. SFL remained the top loser in terms of rupee and witnessed a decrease of Rs76.99 (-7.48 percent) per share, closing at Rs952.01, followed by SAPT, the share price of which fell by Rs75.7 (-7.49 percent) to close at Rs934.5 per share.
\nThe sectors taking the index towards north were cement (58 points), technology & communication (55 points), fertilizer (38 points), power generation & distribution (33 points) and food & personal care products (27 points).
\nThe most points added to the index were by LUCK (28 points), HUBC (26 points), TRG and FFC (24 points each) and EFERT (18 points).
\nThe sectors taking the index towards south were investment banks\/ investment companies\/ securities companies (11 points), oil & gas exploration companies (9 points), chemical (6 points), refinery (4 points) and insurance (3 points).
\nThe most points taken off the index were by DAWH (16 points), ENGRO (12 points), MCB (12 points), UBL (8 points) and MARI (7 points). <\/p>\n","protected":false},"excerpt":{"rendered":"
The benchmark KSE-100 Index gaining 300.82 points (+0.70 percent KARACHI Pakistan Stock Exchange (PSX) consolidated gains on Wednesday as the government started talks with the International Monetary Fund (IMF) for revival of the loan programme, with the benchmark KSE-100 Index gaining 300.82 points (+0.70 percent) to close at 43,026.88 points. The market opened on a […]<\/p>\n","protected":false},"author":2,"featured_media":254263,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[7401,7402,418,205],"class_list":{"0":"post-261300","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-breach","9":"tag-consolidates","10":"tag-pakistan-stock-exchange","11":"tag-psx"},"yoast_head":"\n