Finance

Investors confidence got boosted as Govt is accepting IMF conditions

Karachi, June 16, 2022: PSX continued positive momentum as investors’ confidence got boosted as Government announced to further increase fuel prices in order to keep in line with the IMF Program. KSE-100 Index stayed in green zone throughout the day. Activity remained healthy across the board as cement sector remained in the limelight due to price increase in the North region. 

The Index closed at 41,730.16 points, up by 291.37 points (+0.70 percent DoD). Sectors contributing to the performance include E&P (+63.7 points), Power (+55.8 points), Cement (+53.7 points), Fertilizer (+49.3 points) and OMC’s (+35.4 points).

Read More: KSE Index: Investors opted for value hunting

Volumes increased from 141.7 million shares to 162.2 million shares (+14.4 percent DoD). Average traded value also increased by 0.3 percent to reach US$ 23.0 million as against US$ 22.9 million.

Stocks that contributed significantly to the volumes are WTL, OBOYR1, MLCF, PRL and CNERGY.

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