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KSE-100 opens week on positive note, gains 542 points

11 Jan, 2022
The benchmark KSE-100 index of PSX finished with a gain of 541.98 points to end at 45,887.63. file photo
The benchmark KSE-100 index of PSX finished with a gain of 541.98 points to end at 45,887.63. file photo

Pakistan stocks opened the week on a positive note, with the benchmark KSE-100 Index gaining 1.2%, and volumes improving substantially from Friday's session.

At close on Monday, the index finished with a gain of 541.98 points or 1.20% to end at 45,887.63.

Across-the-board buying was witnessed in blue-chip stocks.

“Investors welcomed the new week on a bullish note where the KSE-100 remained mostly in the green throughout the day. The market opened negative (initially) on the back of news regarding further delay in the International Monetary Fund (IMF) programme,” said Topline Securities in its post-market comment.

Earlier on Monday, Pakistan' finance ministry confirmed that the IMF has agreed to its request to reschedule the sixth review of the $6-billion Extended Fund Facility (EFF), after stating that it would be held on January 12.

On the corporate front, Attock Cement Pakistan Limited informed the bourse that it has received $2 million as dividend from accumulated profits of its 60%-owned subsidiary i.e. Saqr Al Keetan for Cement Production Company Limited (SAKCPCL).

Volumes increased, clocking in at 356.97 million on the all-share index, up from 242.26 million on Friday. The value of shares traded also improved substantially to Rs11.87 billion, up from Rs7.93 billion.

Unity Foods Limited was the volume leader with 33.21 million shares, followed by WorldCall Telecom with 30.07 million shares, and TRG Pakistan Limited with 25.79 million shares.

Shares of 383 companies were traded on Monday, of which 243 registered an increase, 112 recorded a fall, and 28 remained unchanged.