Finance

KSE Index: Investors opted for value hunting

Karachi, June 15, 2022: Bullish momentum was witnessed at PSX today due to expectation of Pakistan’s exclusion from the grey list of FATF. KSE-100 index stayed in the green zone as investors opted for value hunting in the OMCs, cements and E&P sectors. Volumes remained sluggish in the main board whereas 3rd tier stocks witnessed hefty volumes.

The Index closed at 41,438.79 points, up by 384.11 points (+0.94 percent DoD). Sectors contributing to the performance include Cement (+73.6 points), Banks (+70.6 points), Fertilizer (+70.0 points), E&P (+54.7 points) and Power (+34.5 points).

Volumes increased from 120.1 million shares to 141.7 million shares (+18.0 percent DoD). Average traded value also increased by 41.6 percent to reach US$ 23.1 million as against US$ 16.3 million.

Stocks that contributed significantly to the volumes are TPLP, BGL, PRL, WTL and SNGP.

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