Stocks cross 43,000 on hopes of friendly inflows.

KARACHI -- The Pakistan Stock Exchange observed yet another positive session on Friday on the back of the news that the country will get a financial package from friendly countries.

Arif Habib Ltd said the benchmark opened in the positive territory but lacklustre activity led the index to lose 96.39 points at the close of the pre-Friday prayer session.

However, the benchmark rebounded once trading resumed.

Investors hunted for stocks because of Finance Minister Ishaq Dar's announcement about a $13 billion package from China and Saudi Arabia. Volumes remained stable overall while healthy activity was observed in the oil and exploration sector.

As for material announcements, JS Bank Ltd told investors it acquired 89.3 million ordinary shares (7.8 per cent of paid-up capital) of BankIslami Pakistan Ltd from NBD Bank PSJC.

The KSE-100 index settled at 43,092.95 points, up 191.68 points or 0.45pc from the preceding session.

The trading volume decreAased 20.8pc to 232.8m shares while the traded value went down 25.4pc to $34.4m on a day-on-day basis.

Stocks contributing significantly to the traded volume included Cnergyico PK Ltd (21.1m shares), WorldCall Telecom Ltd (17.9m shares), TPL Properties Ltd (15.1m shares), Pakistan Refinery Ltd (14.8m...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT