China, Saudi Arabia assure rollover of debt payments | Over 240 million shares traded at the house
\n KARACHI
\nStocks printed decent gains Monday as pledges of financial assistance from friendly countries stoked investor risk appetite, but the trade was well-guarded as the political scene remains far from calm.
\nThe KSE-100 index, the benchmark of the Pakistan Stock Exchange (PSX), closed the day at 42,047 points, up by 191 points or 0.46%.
\nTopline Securities in a note attributed the aforesaid positive sentiment to a $13 billion assurance with regard to the rollover of upcoming debt payments from China and Saudi Arabia.
\n\u201cBuying sentiment was seen in play across the board,\u201d the brokerage said.
\nVolumes decreased 19.4% from 298.1 million shares to 240.2 million, while value also eased 0.2% to $24.58 million as against $24.63 million. WorldCall Telecom led the volumes chart with 43.5 million traded shares.
\nStocks that contributed significantly to the volumes are WorldCall Telecom, Dewan Farooque Motors Limited, Hascol Petroleum, Sui Southern Gas Company Limited, and TPL Properties Limited.
\nArif Habib Ltd in its market wrap said the new week got off to a solid start as the benchmark index opened and moved in the green zone throughout the day. \u201cExpectations of monetary inflows from Saudi Arabia and China and attractive valuations of stocks kept the investors involved in the market,\u201d the brokerage said.
\nThe report added that the third-tier stocks enjoyed decent volumes, while overall volumes remained robust.
\nMajor gainers and losers
\nDuring the day, technology, fertiliser, power, exploration, and production sector stocks contributed positively to the index. TRG Pakistan, Engro Corporation Limited, Hub Power Company Ltd, Pakistan Oilfields Limited, and Pakistan Petroleum Ltd cumulatively added 70 points to the index. On the other hand, HabibMetro Bank, Engro Fertilizers Limited, and Thal Limited together lost 22 points.<\/p>\n","protected":false},"excerpt":{"rendered":"
China, Saudi Arabia assure rollover of debt payments | Over 240 million shares traded at the house KARACHI Stocks printed decent gains Monday as pledges of financial assistance from friendly countries stoked investor risk appetite, but the trade was well-guarded as the political scene remains far from calm. The KSE-100 index, the benchmark of the […]<\/p>\n","protected":false},"author":2,"featured_media":255695,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[325,205,878],"class_list":{"0":"post-293820","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-kse","9":"tag-psx","10":"tag-stock"},"yoast_head":"\n