KARACHI: The stock market gained 796 points on Monday owing to positive news flow regarding China currency swap agreement and expectations of lower inflation.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 43,266 points as compared with last closing on Friday at 42,470 points, showing an increase of 796 points.
Analysts at Topline Securities said that the market opened the week on a positive note with the Index trading in green for the entire session and consequently closing the day at 43,266 (up 1.87 percent).
Investors cheered the news of the currency swap arrangement with China which will keep SBP FX reserves afloat while lower inflation expectation further boosted investor sentiment at the bourse.
Major positive contributors today were namely FFC, LUCK, OGDC, PPL & ENGRO who cumulatively added around 244 points to the benchmark KSE100 Index.
Volumes also saw an uptick with total traded volume and value clocking in at 628.41 million shares (up 12.7 percent DoD) and Rs26.4 billion (up 4 percent DoD).
PRL was today’s volume leader with 57.48 million shares traded followed by HASCOL with 46.84 million shares traded during the session.
