KARACHI: The shares market continued its positive momentum on Tuesday on account of a declining trend in the global commodity prices, anticipation of a flood relief package announcement by international financial institutions and the ongoing improvement in the rupee-dollar parity.

Topline Securities said the index made an intraday high of 438 points, which led to profit-taking by investors.

The rupee continued its winning streak against the dollar and gained 1.33 per cent in the interbank market to close at 233.91.

According to Arif Habib Ltd, the stock market witnessed a positive session because of “further clarity” on the political ground that pushed the index into the green territory.

As a result, the KSE-100 index settled at 41,518.23 points, up 366.69 points or 0.89pc from the preceding session.

The trading volume increased 8.3pc to 230.7 million shares while the traded value went up 1.1pc to $41.1m on a day-on-day basis.

Stocks contributing significantly to the traded volume included TPL Properties Ltd (26.87m shares), TRG Pakistan Ltd (20.81m shares), K-Electric Ltd (12.82m shares), Cner­gyico PK Ltd (12.51m sha­res) and WorldCall Telecom Ltd (12.15m shares).

Sectors that contributed to the index performance were exploration and production (93.1 points), banking (55 points), cement (42.5 points), fertiliser (39.2 points) and pharmaceutical (20.7 points).

Companies registering the biggest increase in their share prices in absolute terms were Nestle Pakistan Ltd (Rs100), Rafhan Maize Products Company Ltd (Rs66), Premium Textile Mills Ltd (Rs39.11), Sanofi-Aventis Pakistan Ltd (Rs32.63) and Service Industries Ltd (Rs18.95).

Shares that declined the most in rupee terms were Sapphire Fibres Ltd (Rs59.50), Colgate-Palm­olive Pakistan Ltd (Rs31.99), the Thal Indus­tries Corporation Ltd (Rs22.34), Bata Pakistan Ltd (Rs21.06) and Suraj Cotton Mills Ltd (Rs12.97).

Foreign investors remai­ned net buyers as they purchased shares worth $0.24m.

Published in Dawn, September 28th, 2022

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