Abbas said the market is still attractive, which is why the positive momentum continues. “It is expected that the market will gain further.” Capital market expert Saad Ali said IMF optimism and outlook for greater macro stability had complemented good corporate results in the present result season. “…many banks and companies have surprised with their earnings and payouts despite a tough macro backdrop,” the expert added.
Pakistan’s signed a short-term deal with the IMF late last month, enabling the country to stave off a default and shore up its foreign exchange reserves. Shares of 344 companies were traded during the session. At the close of trading, 146 scrips closed in the green, 182 in the red, and 16 remained unchanged. Worldcall Telecom Limited was the volume leader with 40.14 million shares traded, losing Rs0.02 to close at Rs1.39. It was followed by K-Electric Limited with 30.12 million shares traded, remaining the same to close at Rs2.30 and Oil & Gas Development Company with 28.45 million shares gaining Rs4.97 to close at Rs91.79.
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