KARACHI: The benchmark index of the Pakistan Stock Exchange remained in the green zone throughout the trading session on Wednesday as investors celebrated the positive news flow relating to the International Monetary Fund (IMF) loan programme.

According to Arif Habib Ltd, the stock market celebrated the statement from the adviser to the prime minister on finance that no proposal involving the premier seeking help from the IMF chief was currently under consideration.

“The market opened on a positive note as traders took bets on cement, steel and technology stocks. Accumulation was witnessed in the banking sector as investors eyed an interest rate hike in the upcoming monetary policy,” it said.

Read more: With no IMF accord in sight, dollar rises to Rs171.85 in interbank market

As a result, the benchmark index increased to 46,629.88 points, up 229.97 points or 0.5 per cent from a day ago.

Market participation decreased 26.3pc to 320.33 million shares on a day-on-day basis.

Sectors contributing the highest number of points to the benchmark index included fertiliser (79.84 points), oil and gas exploration (69.87 points), technology and communication (21.41 points), pharmaceutical (20.84 points) and power generation and distribution (19.67 points).

Stocks that contributed significantly to the traded volume included First National Equities Ltd (39.04m shares), Service Fabrics Ltd (30.48m shares), Ghani Global Holdings Ltd (23.78m shares), TeleCard Ltd (20.98m shares) and TPL Properties Ltd (19.25m shares).

Stocks that contributed positively to the index included Engro Corporation Ltd (42.25 points), Oil and Gas Development Company Ltd (26.54 points), Pakistan Petroleum Ltd (19.84 points), TRG Pakistan Ltd (17.05 points) and The Hub Power Company Ltd (16.01 points).

Shares that contributed negatively included Habib Bank Ltd (13.31 points), MCB Bank Ltd (13.25 points), Lucky Cement Ltd (12.65 points), Dawood Hercules Corporation Ltd (5.54 points) and Faysal Bank Ltd (4.77 points).

Stocks recording the highest gains in percentage terms included AGP Ltd, which went up 6.66pc, followed by Sui Northern Gas Pipelines Ltd (4.4pc), Pakistan Stock Exchange Ltd (3.99pc), Fauji Fertiliser Bin Qasim Ltd (3.51pc) and National Refinery Ltd (2.06pc).

Published in Dawn, November 11th, 2021