Stocks extend gains on positive triggers

• KSE-100 index settles at 42,460.08 points with a rise of 0.26%.
• Continuous appreciation of rupee trigger bullish sentiment.
• Investors' participation remained active throughout the day.

KARACHI: The Pakistan Stock Exchange (PSX) extended the previous day’s gains on Thursday, as investors continued to celebrate the positive cues emerging in the wake of funds received from the International Monetary Fund (IMF).

Continuous appreciation of the rupee against the US dollar in the interbank market continued to trigger bullish sentiment among market players.

Receipts worth $1.16 billion from the IMF sparked optimism among market participants, who resorted to making fresh purchases.

At close, the benchmark KSE-100 index settled at 42,460.08 points with an increase of 108.93 points or 0.26%.

A report from Arif Habib Limited noted that the market witnessed a positive session today as Pakistan received the first tranche of the extended fund facility from the International Monetary Fund (IMF).

“Investors' participation remained active throughout the day, healthy volumes were observed while the cement sector remained in the limelight,” the brokerage house stated.

Sectors contributing to the performance included cement (+89.8 points), banks (+19.5 points), technology (+18.8 points), leather (+10.8 points), and investment banks (+8 points).

Shares of 345 companies were traded during the session. At the close of trading, 185 scrips closed in the green, 132 in the red, and 28 remained unchanged.

Overall trading volumes rose to 248.19 million shares compared with Wednesday's tally of 181.26 million. The value of shares traded during the day was Rs8.01 billion.

Cynergyico was the volume leader with 35.62 million shares traded, losing Rs0.04 to close at Rs5.32. It was followed by Maple Leaf Cement Factory with 23.49 million shares traded, gaining Rs0.27 to close at Rs0.27 and Fauji Cement Company with 13.81 million shares traded, gaining Rs0.44 to close at Rs15.46.