KARACHI: Pakistan stocks gained 827 points on Monday owing to positive sentiments after the inflows of $2.3 billion received from China.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,879 points from last Friday’s closing of 41,052 points, showing a gain of 827 points.
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Analysts at Topline Securities said that Pakistan equities commenced the week on a positive note on the backdrop of: arrival of Chinese funds of $2.3 billion received by country’s central bank over the weekend; progress on resumption of IMF program; and window dressing factor ahead of fiscal year end.
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The KSE100 index initially opened on a positive, stayed positive throughout the day and eventually settled at 41,879 (+827 points; up 2.01 per cent) for the day.
E&P, Fertilizer, Tech and Banking sector stocks contributed positively to the index where MARI, FFC, SYS, MCB & HBL added 260 points, cumulatively. On the flip side, OGDC, DAWH and PPL have witnessed some profit taking as they lost 18 points collectively today.
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Around 248 million shares traded today at the bourse while total value clocked in at Rs7.4 billion. KEL led the volumes chart today with trading of 32mn shares in it, today.
Read Full Story: https://pkrevenue.com/pakistan-stocks-gain-827-points-on-chinese-funds/
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