Daily Times

The benchmark KSE-100 Index rose 0.6 percent on Wednesday to settle slightly below the 44,000-point barrier, extending gains from the previous session. The amount of stock exchanged, as well as the value of that volume, both grew.

A delay in opposition protests, a drop in global commodity prices, and news of talks between Russian and Ukrainian officials all contributed to a positive start for the KSE-100, according to a post-market comment from Topline Securities.

After a strong start, the market stayed upbeat and reached an intraday high of 44,283.88 on the benchmark index (up by 564 points). A close of 43,975.69 points (0.59pc) saw a gain of 255.87 points or 0.59 percent.

The price of petroleum products was remained steady by the government in its last fortnightly price review in accordance with the Prime Minister’s assistance plan. International oil prices rose by 22.7pc over this time period, but HSD refining margins soared dramatically by 47pc internationally.

When it comes to the corporate world, Cherat Cement Company Limited informed the bourse that its factory in Nowshera, Khyber Pakhtunkhwa, has commissioned an 11.35-megawatt solar energy facility. In the next two months, “the remaining about 1.7 MW is scheduled to be activated.”

The KSE-100 has been lifted by the technology and communication (88.01 points), cement (69.90 points), and banking sectors, respectively (31.01 points).

On Wednesday, the all-share index’s volume rose from 189.04 million to 236.51 million. From Rs4.69 billion to Rs5.79 billion, the value of shares traded has also increased. WorldCall Telecom came in second with 16.69 million shares, followed in third place by Treet Corporation with 15.23 million shares in trading volume.

On Wednesday, shares of 354 firms were traded, with 215 seeing their prices rise, 115 seeing their prices fall, and 24 seeing their prices stay the same.