KSE-100 index closes day in green on hopes of removal from FATF’s grey list

• Benchmark KSE-100 index closed at 42,140.76 points with gain of 410.60 points or 0.98%.
• AHL says investors opted for across-the-board buying as hefty volumes were witnessed on main board along with sideboard stocks.
• Overall trading volumes rose to 282.93 million shares compared with Thursday’s tally of 162.17 million. 

In the backdrop of the news that Pakistan may get out of the Financial Action Task Force’s (FATF) grey list, the bulls returned to the benchmark KSE-100 Index with the Index gaining over 400 points.

The KSE-100 Index started the session in the green and continued to remain so throughout the day with occasional dips.

The benchmark index closed at 42,140.76 points with a gain of 410.60 points or 0.98%.

As per Arif Habib Limited, the bulls dominated the market throughout the day as news spread that Pakistan may come off the FATF grey list today.

“Investors opted for across-the-board buying as hefty volumes were witnessed on the main board along with sideboard stocks,” said AHL.

The sectors that contributed to the performance include E&P (+88.9pts), Banks (+82.7pts), Cement (+45.8pts), Chemical (+32.1pts) and Engineering (+29.6pts).

Shares of 353 companies were traded during the session. At the close of trading, 238 scrips closed in the green, 95 in the red, and 20 remained unchanged.

Overall trading volumes rose to 282.93 million shares compared with Thursday’s tally of 162.17 million. The value of shares traded during the day was Rs9.05 billion.

Cnergyico PK Limited was the volume leader with 31.92 million shares traded, gaining Rs0.23 to close at Rs5.37. It was followed by Hum Network Limited with 17.69 million shares traded, gaining Rs0.32 to close at Rs7.50 and Pakistan Refinery Limited with 17.11 million shares traded, gaining Rs0.51 to close at Rs17.91.