Stocks closed in the green zone on Thursday, as the benchmark KSE-100 Index was up 156 points, while volumes declined from the last close.

At close, the index finished with an increase of 156.09 points or 0.35% to end at 44,416.20.

“Cement sector remained in the limelight as cement stocks rallied in the first trading hour due to reduction in international coal prices,” said Arif Habib Limited in its post-market update.

In the banking sector, Meezan Bank stayed in the limelight as SBP on Wednesday launched Shariah-compliant liquidity facilities for Islamic banking institutions to enable them to offer better returns and rates to their customers on deposits and loans.

On the economic front, in a major development, the cabinet gave approval to the supplementary finance bill or the mini-budget, which was also presented in the National Assembly session earlier today.

Meanwhile, liquid foreign exchange reserves held by the SBP were down $298 million to $17.86 billion. Total reserves stood at $24.27 billion.

KSE-100 Index inches up another 0.49% as volume picks up

On the corporate front, Archoma Pakistan Limited shareholders approved a cash dividend at the rate of 900% (Rs 90 per share) of Rs 3,071 million on the paid-up capital as recommended by the directors.

Sectors adding gains to the benchmark index included technology and communication (70.98 points), banking (52.62 points), and fertilizer (50.89 points).

Volume decreased, clocking in at 243.10 million on the all-share index, down from 271.11 million on Wednesday. The value of shares improved to Rs10.34 billion, up from Rs8.16 billion.

K-Electric Limited was the volume leader with 22.93 million shares, followed by Treet Corporation with 19.10 million shares, and TRG Pakistan Limited with 17.71 million shares.

Shares of 373 companies were traded on Thursday, of which 202 registered an increase, 149 recorded a fall, and 22 remained unchanged.