Karachi: Pakistan Stock Exchange (PSX) KSE-100 Index rose over 700 points amid hopes that much-needed International Monetary Fund (IMF) programme will be revived soon. In addition, ongoing recovery in rupee against dollar further aided rise.

By end of day, KSE-100 Index was up 743.27 points or 1.78 percent to close at 42,466.59 points, highest level since September 1, 2022 when it closed at 42,460.08 points. KSE-100 increases 0.48 percent owing to hopes of breakthrough in talks with IMF. Across-the-board buying was witnessed with index heavy sectors including, automobile, cement, chemical, commercial banks and OMCs trading in green.

Sectors lifting benchmark KSE-100 index higher included banking (210.57 points), oil and gas exploration (152.00 points) and cement (107.78 points).

Volume on all-share index jumped to 367.4 million from 297.8 million on Wednesday. Value of shares increased to Rs 13.5 billion from Rs 12.1 billion recorded in previous session.

WorldCall Telecom was volume leader with 35.2 million shares followed by Hascol with 25.3 million shares and Oil and Gas Development Company with 18.2 million shares. Shares of 352 companies were traded of which 243 registered an increase, 86 recorded a fall and 23 remained unchanged.

Published in The Daily National Courier, February, 10 2023

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