KSE-100 sees improved trading, gains 11% amid news from Saudi Arabia

The benchmark KSE-100 Index showed signs of rebound, although negligible, and improved trading volume, as it closed in the green zone on Friday after gaining 46.67 points (0.11 percent).

It closed the business week at 41,698.28 after reaching a high of 41,747.57 during Friday’s session as the investors received the news that the $4.2 billion support from Saudi Arabia had been finalised.

Moreover, the positive reports about the IMF tranche and some stability in rupee also played an important role.

The total trading volume of KSE-100 Index stood at 45.50 million shares, which was an increase of 37.01 percent when compared with the last session.

In terms of sectors, most of the positive contributions came from oil and gas, commercial banks, engineering, technology, and paper and board, which cumulatively added 90.69 points to the index.

Out of 89 companies’ shares traded on Friday, 42 companies recorded gains and 40 sustained losses while the value of the remaining seven remained unchanged.

When it comes to the volume leaders, Cnergyico PK Limited 3.73 million shares, Pakistan Petroleum Limited 3.59 million shares, Oil and Gas Development Company Limited 3.44 million shares, Fauji Fertilizer Bin Qasim Limited 3.20 million shares and Unity Foods Limited 2.85 million shares topped the list.

The companies which gained the most during the session included: Muree Brewery Company Limited 4.13 percent, Mari Petroleum Company Limited 0.63 percent, Colgate-Palmolive Pakistan Limited 0.51 percent, Punjab Oil Mills Limited 4.38 percent and Indus Motor Company Limited 0.49 percent.

On the other hand, the stocks that emerged as net losers during the day were: Archroma Pakistan Limited 1.19 percent, Abbott Laboratories (Pakistan) Limited 0.63 percent, Pakistan Services Limited 0.21 percent, GlaxoSmithKline Pakistan Limited 2.36 percent and Pak Suzuki Motor Company Limited 1.37 percent.

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