Home General IMF & govt patch up helps Stock market turnaround

IMF & govt patch up helps Stock market turnaround

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Ghulam Raza Rajani

KARACHI: Market observed an overall bullish trading day seeing an increase of at least 1.75 per cent. An across the board buying was seen as more than 68 per cent of scrips traded in green zone. News relating optimism in relation between Pakistan and IMF, recuperation in Pakistan currency in terms of US dollar and approval of Rs 135bn to IPP from ECC were some news assisting market to rebound and surpass 46K.
The benchmark KSE-100 index closed higher by 806.65 to close at 46,542.91 points. KSE All Share Index increased by 468.75 to end at 31,649.27 KSE 30-Index ascended by 352.22 points to conclude at 18,098.42 whereas KMI 30-Index enhanced by 1,629.25 points to finish the day at 75,398.56 levels.
The advance to decline ratio in the broader market remained in favor of bulls. Out of 351 scrips, 239 scrips advanced, 89 declined while the value of 23 scrips remained intact.
The ready market volume ascended by 40.69526 per cent to 243.193208 million shares as compared to 172.466529 million shares traded on last trading day.
Ghani Global Holding Limited topped the list of actives, lowered Rs 0.42 at Rs 33.73 on 16.6130 million shares followed by TPL Properties Limited increased by Rs 3.2I8 at Rs 51.95 on 15.2430 million shares and Waves Singer Pakistan Limited improved by Rs 1.32 at Rs 19.62 on 11.0180 million shares.
Other activities were Telecard Limited ascended by Rs 0.81 at Rs 19.05 on 10.2610 million shares and Services Fabrics Limited enhanced by 0.80 at Rs 12.06 on 9.5815 million shares.
The overall market capitalization enhanced by Rs 117.3450764 billion to Rs 7.92490616 trillion against Rs 7.80756108 trillion observed on last trading day.
Wyeth Pakistan Limited and Sapphire Fiber Limited remained the top gainer by Rs 120.05 and Rs 55.50 to close at Rs 1,720.72 and Rs 795.50 respectively, while Unilever Pakistan Foods Limited and Philip Morris Pakistan Limited were among the major losers which lost Rs 49.50 and Rs 33.99 to close at Rs 18,900.00 and Rs 752.01 respectively.