KARACHI: The benchmark index of the Pakistan Stock Exchange (PSX) stayed in the green zone on Thursday on the back of positive triggers in cement and banking sectors.
According to Arif Habib Ltd, the cement sector hogged the limelight after a reduction in international coal prices. Meezan Bank Ltd remained the focus of activity in the banking sector as the central bank introduced a day earlier Shariah-compliant liquidity facilities for the Islamic banking industry for the first time. The regulatory move will enable Islamic banks to offer better returns and rates to their customers on deposits and loans, respectively.
As a result, the KSE-100 index gained 156.09 points or 0.35 per cent to close at 44,416.20 points.
Market participation decreased 10.3pc to 243.1 million shares while the value of traded shares went up 26.8pc to $58.3m.
Sectors contributing the highest number of points to the benchmark index included technology and communication (79.02 points), commercial banking (59.91 points), fertiliser (43.89 points), cement (31.69 points) and food and personal care (16.46 points).
Stocks that contributed significantly to the traded volume included K-Electric Ltd (22.92m shares), Treet Corporation Ltd (19.08m shares), TRG Pakistan Ltd (17.7m shares), Cnergyico PK Ltd (11.05m shares) and Pakistan Refinery Ltd (9.9m shares).
Shares contributing positively to the index were TRG Pakistan Ltd (43.54 points), Engro Corporation Ltd (40.50 points), Systems Ltd (33.06 points), United Bank Ltd (22.05 points) and Pakistan Tobacco Company Ltd (16.28 points).
Stocks that took away the maximum number of points from the index included Colgate-Palmolive Pakistan Ltd (31.36 points), Oil and Gas Development Company Ltd (14.37 points), Pakistan Oilfields Ltd (13.16 points), Pakistan State Oil Company Ltd (10.99 points) and Pakistan Petroleum Ltd (10.97 points).
Stocks recording the biggest increases in percentage terms included Murree Brewery Company Ltd, which went up 6.90pc, followed by Standard Chartered Bank Pakistan Ltd (5.89pc), Pakistan Tobacco Company Ltd (4.76pc), Kohinoor Textile Ltd (3.36pc) and TRG Pakistan Ltd (3.2pc).
Foreign investors were net buyers as they purchased shares worth $4.12m on a net basis.
Published in Dawn, December 31st, 2021
