Pakistan stocks witnessed a rally on the first trading session of the week, as the benchmark KSE-100 Index moved up 297 points.
The index witnessed a steady increase throughout the day, hitting an intra-day high of 45,462.62.
At close, the KSE-100 increased 296.77 points or 0.66% higher to settle at 45,374.68.
"Market opened on a positive note and stayed in the green zone throughout the day," said Arif Habib Limited (AHL) in its post-market comment. "Moreover, the mainboard activity remained gloomy. On the flip-side, activity continued to remain side-ways as the market witnessed hefty volumes in 3rd-tier stocks. In the last trading hour, profit-taking was witnessed due to rising Covid-19 cases."
Topline Securities said investors cheered news regarding Prime Minister Imran Khan’s visit to Beijing on February 3, 2022 amid reports that a loan to the tune of $3 billion to stabilise Pakistan's foreign exchange reserves was in the offing.
Volumes decreased on Monday, clocking in at 251.68 million on the all-share index, down from 258.91 million on Friday. The value of shares traded improved to Rs8.56 billion from Rs8.13 billion on Friday.
Treet Corporation was the volume leader with 22.94 million shares, followed by WorldCall Telecom with 22.49 million shares, and TRG Pakistan Limited with 18.12 million shares.
Shares of 360 companies were traded on Monday, of which 237 registered an increase, 96 recorded a fall, and 27 remained unchanged.
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