Daily Times

There was a noticeable uptick in trading volume and positive sentiment on the Pakistan Stock Exchange (PSX) on Thursday, as the benchmark KSE-100 Index gained 0.69 percent. In the first part of the day, the KSE-100 fell to an intra-day low of 46,053.66 points (down by 112 points). A new intraday high for the benchmark index was reached at 46,510.11, though (up by 344 points). As of the day’s end, the KSE-100 Index had risen by 318.93 points or 0.69pc.

According to a post-market comment from Arif Habib Limited (AHL), “a positive session was recorded at PSX due to stability in the Pakistani rupee against the US dollar..”There was a “rally in the refinery sector due to expectations of enormous profitability in the upcoming financial result,” according to the brokerage firm, which added that mainboard activity remained lackluster while substantial purchasing was observed in the 3rd-tier companies.

According to the State Bank of Pakistan’s most recent figures, remittances sent home by Pakistanis living abroad increased by 3.20 percent year on year to $2.81 billion (SBP). There was a 28 percent increase in monthly sales.

MARI Petroleum Company Limited (MARI) Board of Directors approved the sale of 20.9 million shares of MARI stock to National Resources (Pvt) Limited in their meeting (NRL). Fertilizer (70.91 points), cement (61.71 points), and refinery were the top gainers on the KSE-100 index (56.15 points). From 474.59 million to 494.94 million, the all-share index saw a rise in volume. However, the value of shares fell from Rs12.35 billion to Rs11.68 billion in the previous session. WorldCall Telecom Limited came in second with 36.95 million shares, and Flying Cement placed third with 33.87 million shares, according to Cnergyico PK’s share count.