The Pakistan Stock Exchange (PSX) continued to rise on Thursday, boosted by indications of progress in discussions between Pakistan and the International Monetary Fund (IMF) as well as a drop in the September current account deficit.
Positive news about Pakistan’s projected removal from the Financial Action Task Force’s (FATF) grey list, as well as a slew of favourable financial outcomes, boosted the investment climate.
The benchmark KSE-100 Index gained 321.94 points, or 0.71 percent, to finish at 45,821.40 points.
Earlier in the day, trading began on a strong note, and the KSE-100 index stayed mainly in the green zone throughout the day, but the index was unable to maintain its momentum until the end of the session.
On the financial front, Kohat Cement reported profits per share (EPS) of Rs6.96 for the quarter ended September 30, 2021, up from Rs2.52 in the previous year’s quarter. During the first quarter of FY22, the firm earned Rs1.4 billion in profit after tax.
In the meantime, National Refinery, Attock Refinery, and Shell Pakistan presented their quarterly reports, all of which showed significant profits for the quarter under review.
Shares of 359 publicly traded firms were exchanged during the session. 158 stocks finished in the green, 185 in the red, and 16 stayed unchanged at the end of the day.
Overall trading volumes climbed to 338.3 million shares, up from 308.2 million on Wednesday. During the day, Rs13.4 billion worth of shares were exchanged.
With 25.6 million shares traded, Bank of Punjab was the most active, earning Rs0.16 to end at Rs8.91. Telecard Limited came in second with 24.3 million shares, up Rs0.40 to Rs17.13, while Hum Network Limited came in third with 23.9 million shares, up Rs0.05 to Rs6.55.