Stocks gain as buying witnessed in key sectors
Business
The benchmark KSE-100 index hovered at 112,753 points after gaining more than 500 points.
KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) witnessed bullish trend on the opening hours of trading on Thursday.
The benchmark KSE-100 index hovered at 112,753 points after gaining more than 500 points.
Key sectors including automobile assemblers, cement, commercial banks, fertilizer, oil and gas exploration companies, OMCs and refinery. Index-heavy stocks including PRL, HUBCO, PSO, SNGPL, MARI, OGDC, HBL, NBP and UBL traded in the green as buying was witnessed in these sectors.
For now, investors are closely observing the ongoing talks between the Pakistani authorities and the global lender International Monetary Fund (IMF) regarding the first review of its $7 billion Extended Fund Facility (EFF) programme.
If the review gets the lender’s board’s nod, it could unlock another tranche of funding for cash-strapped Pakistan ahead of its annual budget.
It must be remembered that the KSE-100 index had closed at 112,253 points after losing 490 points yesterday (Wednesday).
