KARACHI: Stocks printed decent gains Monday as pledges of financial assistance from friendly countries stoked investor risk appetite, but the trade was well-guarded as the political scene remains far from calm.
The KSE-100 index, the benchmark of the Pakistan Stock Exchange (PSX), closed the day at 42,047 points, up by 191 points or 0.46%.
Benchmark KSE-100 index intra-day trading curve. – PSX data portal Topline Securities in a note attributed the aforesaid positive sentiment to a $13 billion assurance with regard to the rollover of upcoming debt payments from China and Saudi Arabia. “Buying sentiment was seen in play across the board,” the brokerage said. Volumes decreased 19.4% from 298.1 million shares to 240.2 million, while value also eased 0.2% to $24.58 million as against $24.63 million. WorldCall Telecom led the volumes chart with 43.5 million traded shares.
Arif Habib Ltd in its market wrap said the new week got off to a solid start as the benchmark index opened and moved in the green zone throughout the day. “Expectations of monetary inflows from Saudi Arabia and China and attractive valuations of stocks kept the investors involved in the market,” the brokerage said.-PNP
Stocks rise on financial assurances from friendly countries
China, Saudi Arabia assure rollover of debt payments, Buying sentiment prevailed across the board
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