AGL 5.77 Decreased By ▼ -0.06 (-1.03%)
ANL 9.06 Increased By ▲ 0.03 (0.33%)
AVN 79.00 Increased By ▲ 0.20 (0.25%)
BOP 5.17 Increased By ▲ 0.01 (0.19%)
CNERGY 4.72 Increased By ▲ 0.04 (0.85%)
EFERT 81.10 Increased By ▲ 0.55 (0.68%)
EPCL 50.50 Decreased By ▼ -1.21 (-2.34%)
FCCL 13.50 Decreased By ▼ -0.11 (-0.81%)
FFL 5.77 Decreased By ▼ -0.08 (-1.37%)
FLYNG 7.19 Increased By ▲ 0.07 (0.98%)
FNEL 4.91 Increased By ▲ 0.06 (1.24%)
GGGL 8.88 Decreased By ▼ -0.02 (-0.22%)
GGL 15.76 Decreased By ▼ -0.29 (-1.81%)
HUMNL 5.95 Increased By ▲ 0.15 (2.59%)
KEL 2.60 No Change ▼ 0.00 (0%)
LOTCHEM 29.81 Decreased By ▼ -0.20 (-0.67%)
MLCF 24.84 Decreased By ▼ -0.56 (-2.2%)
OGDC 72.45 Increased By ▲ 0.30 (0.42%)
PAEL 15.40 Decreased By ▼ -0.09 (-0.58%)
PIBTL 5.09 Increased By ▲ 0.08 (1.6%)
PRL 16.45 Increased By ▲ 0.05 (0.3%)
SILK 1.12 Increased By ▲ 0.02 (1.82%)
TELE 9.62 Decreased By ▼ -0.03 (-0.31%)
TPL 7.30 No Change ▼ 0.00 (0%)
TPLP 19.18 Decreased By ▼ -0.05 (-0.26%)
TREET 21.91 Decreased By ▼ -0.04 (-0.18%)
TRG 144.95 Decreased By ▼ -0.02 (-0.01%)
UNITY 16.62 No Change ▼ 0.00 (0%)
WAVES 10.05 Increased By ▲ 0.05 (0.5%)
WTL 1.38 Increased By ▲ 0.01 (0.73%)
BR100 4,248 Increased By 17.7 (0.42%)
BR30 15,814 Decreased By -8.3 (-0.05%)
KSE100 42,240 Increased By 168.9 (0.4%)
KSE30 15,609 Increased By 104.9 (0.68%)

KSE-100 ends with 790-point gain as bullish sentiment drives the day

  • Clarity on political front, rupee appreciation, and IMF talks steer PSX in positive direction
Published November 1, 2021
Follow us

The Pakistan Stock Exchange (PSX) witnessed a strong rally on account of positive news across the political and economic fronts that boosted investor confidence, helping the benchmark KSE-100 Index gain close to 800 points on Monday.

The benchmark had risen over 1,000 points in intra-day trading, easily moving past the 47,000-point level. However, profit-taking meant the index ended with clipped gains.

At close, the KSE-100 Index settled higher by 790.07 points or 1.71% to finish at 46,974.78.

The market also saw a substantial increase in volumes after technical issues plagued the PSX last week. The management decided to shift trading to the previous system called the Karachi Automated Trading System (KATS) as a short-term measure, announced the PSX over the weekend.

PSX reverts to KATS as 'short-term measure'

Meanwhile, clarity on the political front saw the government announce that an agreement had been reached with the Tehreek-e-Labbaik Pakistan (TLP) on Sunday.

Similarly, Adviser to Prime Minister on Finance and Revenue announced that matters with the International Monetary Fund (IMF) are almost settled and an agreement will be signed this week.

“Market has been bouyant due to positive development on political concerns; news flow of signs of agreement with IMF, and no increase in petrol price which will keep future inflation in check,” Saad Hashmey, Executive Director at BMA Capital, told Business Recorder.

“The PKR has continued to gain, which is giving confidence to investors.”

On the economic front, Pakistan’s CPI inflation increased to 9.2% YoY in October 2021 as compared to an increase of 9.0% in the previous month.

In corporate news, Feroze1888 Mills Limited announced earnings for 1QFY22 at Rs436 million, alongside an EPS of Rs1.16, down by 73% YoY and 50% QoQ.

On Monday, sectors that kept the benchmark KSE 100 index positive included cement (151.68 points), fertiliser (97.45 points) and oil & gas exploration (79.36 points).

Volume on the all-share index increased from 270.4 million on Friday to 430.1 million on Monday. The value of the shares trade also recovered, amounting to Rs14.78 billion from Rs9.73 billion on Friday.

WorldCall Telecom was the volume leader with 53.86 million shares, followed by Byco Petroleum with 24.51 million shares, and Hum Network with 23.21 million shares.

Shares of 372 companies were traded on Monday, of which 271 registered an increase, 87 recorded a fall, while 14 remained unchanged.


Comments are closed.

N K Ali Nov 01, 2021 02:15pm
KATS is the system the KSE has been working all along. Why was it shifted to JADE of Shenzhen Stock Exchange? BR if you are in the know-how then please inform and educate your readers. Thank you and Salams
thumb_up Recommended (0)
Mubbashir Ali Nov 01, 2021 09:11pm
@N K Ali, KATS is an outdated and slow system, which affects the market timings and ultimatetly the trading participation. In almost the entire world markets are closed at 4, and even after that trading can be carried out. Sooner or later PSX has to move towards the new system, however implementing it live without proper testing and issue resolving was a stupid decision of PSX.
thumb_up Recommended (0)
Shabana Tabasum Nov 02, 2021 11:51am
@N K Ali, The New system is known for instant stock business results, means that the trading time will be extended and the half-hour break is reduced to a minute. It is known for its fast calculations, preciseness, and new levels of security to the data of brokers and stockers. Also, this all would allow more amount of stock traded per day as compared to KATS.
thumb_up Recommended (0)

KSE-100 ends with 790-point gain as bullish sentiment drives the day

PD prepares $496m gas pipeline augmentation plan

Intra-day update: rupee registers marginal losses against US dollar

Oil rises as market weighs OPEC+ supply rebalance

IMF, govt begin virtual engagement

Dar willing to allow sugar export?

Presidential Reference on Reko Diq project: SC to announce short order next week

Tax-exempted areas: FBR sets up checkposts to monitor supplies

TTP ends ceasefire, orders nationwide attacks

Saudi unveils plan for massive new airport in capital

Two Palestinians killed by Israeli forces, Palestinians say