AGL 40.00 Decreased By ▼ -0.16 (-0.4%)
AIRLINK 129.53 Decreased By ▼ -2.20 (-1.67%)
BOP 6.68 Decreased By ▼ -0.01 (-0.15%)
CNERGY 4.63 Increased By ▲ 0.16 (3.58%)
DCL 8.94 Increased By ▲ 0.12 (1.36%)
DFML 41.69 Increased By ▲ 1.08 (2.66%)
DGKC 83.77 Decreased By ▼ -0.31 (-0.37%)
FCCL 32.77 Increased By ▲ 0.43 (1.33%)
FFBL 75.47 Increased By ▲ 6.86 (10%)
FFL 11.47 Increased By ▲ 0.12 (1.06%)
HUBC 110.55 Decreased By ▼ -1.21 (-1.08%)
HUMNL 14.56 Increased By ▲ 0.25 (1.75%)
KEL 5.39 Increased By ▲ 0.17 (3.26%)
KOSM 8.40 Decreased By ▼ -0.58 (-6.46%)
MLCF 39.79 Increased By ▲ 0.36 (0.91%)
NBP 60.29 No Change ▼ 0.00 (0%)
OGDC 199.66 Increased By ▲ 4.72 (2.42%)
PAEL 26.65 Decreased By ▼ -0.04 (-0.15%)
PIBTL 7.66 Increased By ▲ 0.18 (2.41%)
PPL 157.92 Increased By ▲ 2.15 (1.38%)
PRL 26.73 Increased By ▲ 0.05 (0.19%)
PTC 18.46 Increased By ▲ 0.16 (0.87%)
SEARL 82.44 Decreased By ▼ -0.58 (-0.7%)
TELE 8.31 Increased By ▲ 0.08 (0.97%)
TOMCL 34.51 Decreased By ▼ -0.04 (-0.12%)
TPLP 9.06 Increased By ▲ 0.25 (2.84%)
TREET 17.47 Increased By ▲ 0.77 (4.61%)
TRG 61.32 Decreased By ▼ -1.13 (-1.81%)
UNITY 27.43 Decreased By ▼ -0.01 (-0.04%)
WTL 1.38 Increased By ▲ 0.10 (7.81%)
BR100 10,407 Increased By 220 (2.16%)
BR30 31,713 Increased By 377.1 (1.2%)
KSE100 97,328 Increased By 1781.9 (1.86%)
KSE30 30,192 Increased By 614.4 (2.08%)
Markets

KSE-100 rises 0.32%, driven by Pakistan's removal from FATF grey-list

  • Approval of $1.5 bn assistance by ADB also lends support to equity market
Published October 24, 2022

Optimism gripped the Pakistan Stock Exchange (PSX) on Monday as the KSE-100 index rose 0.32%, driven by Pakistan’s exclusion from the Financial Action Task Force’s (FATF) grey-list.

The global watchdog for money laundering and terrorism financing removed Pakistan from its grey-list on Friday after more than four years which boosted investor spirit. Aiding the rise was the Asian Development Bank’s (ADB) approval of $1.5 billion in financing for Pakistan aimed at tackling the challenges arising from floods.

Despite political noise, KSE-100 ends with 0.18% gain

By the end of the session, the KSE-100 Index gained 133.75 points or 0.32% to close at 42,347.23.

The day opened with a jump before the KSE-100 Index turned range-bound after minor fluctuations. The market traded nearly flat for most part of the session, however, the final hours saw modest selling which wiped off few of the gains.

Fertiliser and oil spaces saw buying interest and ended on a positive note with automobile and banking segments closing mixed. On the other hand, the cement sector ended largely in loss.

A report from Capital Stake said that bulls came roaring back at the PSX on first trading session of the week.

“Indices accumulated gains all day long, while volumes fell from last close,” it said. “The news of Pakistan being removed from the FATF’s grey list acted as a positive trigger for the investors.”

Moreover, the ongoing results season also helped in improving investors’ confidence, it said.

A report from Topline Securities stated that Pakistan equities commenced the trading week on a celebratory note due to approval of $1.5 billion from ADB and country’s reclassification into FATF whitelist.

Sectors painting the benchmark KSE-100 index in green included technology and communication (46.41 points), fertiliser (40.89 points) and oil and gas exploration (24.35 points).

Volume on the all-share index declined to 226.7 million from 289.6 million on Friday. Similarly, the value of shares traded dropped to Rs6.05 billion from Rs7.9 billion recorded in the previous session.

WorldCall Telecom was the volume leader with 68.8 million shares, followed by Dewan Motors with 12.4 million shares and Pakistan Refinery with 9.5 million shares

Shares of 343 companies were traded on Monday, of which 160 registered an increase, 149 recorded a fall, and 34 remained unchanged.

Comments

Comments are closed.