Stocks maintain bullish tone on loan reports – Journal

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KARACHI: Bulls dominated bears on the Pakistan Stock Exchange on Monday as investors welcomed news that the country was considering a $3 billion loan from China, according to Arif Habib Ltd. The news has since been denied by the Ministry of Finance.

The index remained in the green zone throughout the day, although activity remained sideways as the market saw heavy volumes of third-tier stocks. In the last hour of trading, however, some profit taking was seen due to an increasing number of Covid-19 cases.

As a result, the KSE-100 index added 296.77 points or 0.66% to 45,374.68 points.

Market participation fell 2.8% to 251.7 million shares while the value of shares traded increased 5.4% to $48.5 million.

The sectors that contributed the most points to the benchmark were commercial banking (67.21 points), fertilizers (41 points), food and personal care (35.22 points), technology and communication (33.36 points) and oil and gas exploration (29.78 points). ).

Stocks contributing significantly to the volume traded included Treet Corporation Ltd (22.93 million shares), WorldCall Telecom Ltd (22.49 million shares), TRG Pakistan Ltd (18.12 million shares), Waves Singer Ltd (17.14 million shares) and Hum Network Ltd (15.61 million shares). shares).

Stocks contributing positively to the index include Bank AL Habib Ltd (54.02 points), Colgate-Palmolive Pakistan Ltd (30.61 points), TRG Pakistan Ltd (23.62 points), Unity Foods Ltd (21.93 points ) and Pakistan Services Ltd (21.43 points).

The stocks which removed the maximum points from the index are Adamjee Insurance Company Ltd (7.98 points), Meezan Bank Ltd (7.79 points), Engro Polymer Chemical Ltd (6.96 points), Dawood Hercules Corporation Ltd (6.39 points) and International Steels. Ltd (5.61 points).

Stocks with the largest percentage increases included Colgate-Palmolive Pakistan Ltd, which rose 7.13%, followed by Unity Foods Ltd (6.53%), Azgard Nine Ltd (4.56%), EFU General Insurance Ltd (4.28%) and Bank AL. Habib Ltd (4.14pc).

Foreign investors were net sellers as they sold shares worth $1.054 million.

Posted in Dawn, February 1, 2022

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