Equities close bullish over better economic triggers

KARACHI: The Pakistan Stocks closed in a green zone on Thursday as the investors’ sentiments were boosted on declining global oil prices and expectation of better results of cement stocks.
“On the economic front, Pakistan’s exports to nine regional countries posted a growth of 25.53 per cent in the first eight months of fiscal year 2022 coupled with a decline in the global oil prices which boosted the sentiment of the investors,” an analyst at Pearl Securities said.
The Pakistan Stock Exchange KSE-100 shares Index gained 1.33 per cent, or 591.27 points, to close at 44,928.83 points. The KSE-30 shares Index gained 1.15 per cent, or 194.41 points, to close at 17,117.48 points.
As many as 362 scrips were active of which 273 advanced, 75 declined and 14 remained unchanged.
Going forward, the analysts expect the market to move both ways as the voting on the no-confidence motion is scheduled to be held on April 3, thus, suggesting investors to book profits at a higher level.

The ready market volumes stood at 415.63 million shares, compared with the turnover of 344.13 million shares in the last trading session.
The companies which reflected the highest gains included Bata (Pak) up Rs141.43 to close at Rs2,426.43/share, and Nestle Pakistan(XD) up Rs321.73 to close at Rs5,821.73/share.
The companies that reflected the most losses included Allawasaya Tex down Rs101.04 to close at Rs1,246.22/share, and Wyeth Pak Ltd(XD) down Rs51.90 to close at Rs2,007.70/share.
The highest volumes were witnessed in K-Electric Ltd with a turnover of 56.07 million shares. The scrip gained 3 paisas to close at Rs3.14/share, followed by Treet Corp with a turnover of 34.44 million shares. It gained Rs2.20 to close at Rs33.93/share. Telecard Limited remained the third with a turnover of 27.29 million shares. It gained Re1 to finish at Rs14.17/share.