Pakistan Stocks Gain 139 Points on Contraction In Trade Deficit

Wed Oct 05 2022
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Karachi: On news of a decrease in the trade deficit during the first quarter of the current fiscal year, Pakistani equities rose 139 points on Tuesday.

The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed at 41,350 points, up from 41,211 points the day before, a gain of 139 points. The Pakistani rupee continued to climb against the US dollar, according to analysts at Arif Habib Limited, and the PSX had a good day today.

The benchmark KSE-100 index started the trading day in the green and kept that momentum for the most of the session, rising to an intraday high of 275.06 points when HUB power firm announced an exceptional dividend that increased investor confidence.

The Index increased by 138.73 points (+0.34% DoD) to close at 41,350.43 points. Technology (+73.9.2 points), Power (+53.6 points), Cement (+47.5 points), Miscellaneous (+28.3 points), and Fertilizer (+20.2 points) are the sectors that have contributed to the performance.

Volumes surged by 220.0% DoD, from 185.4 million shares to 593.4 million shares. Additionally, the average traded value climbed by 0.4% to US$41.4 million from US$41.3 million.WTL, FLYNG, KEL, GTECH, and TPLP stocks made major contributions to the volumes.

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