Stocks gain after money market liquidity injection – Newspaper

KARACHI: Stock market investors on Friday welcomed the central bank’s injection of liquidity into the money market, a move that should restore short-term interest rate stability.

The initial volatility on the Pakistan stock exchange turned into an uptrend in the cement and steel sectors as soon as investors learned of the central bank’s open market operation to stabilize the money market, according to Arif Habib Ltd.

However, trading activity continued to remain sideways as the market saw significant volumes of Tier 3 stocks.

As a result, the KSE-100 index added 169.48 points or 0.39% to close at 43,900.68 points.

Market participation fell 19.2% to 252.2 million shares while the value of traded shares also fell 20.4% to $ 45.2 million.

The sectors contributing the most points to the benchmark were cement (69.77 points), commercial banking (60.37 points), oil and gas exploration (34.87 points), engineering (27.67 points) and technology and communication (27.65 points).

The stocks that significantly contributed to the traded volume included WorldCall Telecom Ltd (29.21 million shares), Hum Network Ltd (25.96 million shares), TeleCard Ltd (17.47 million shares), TRG Pakistan Ltd (14.43 million shares) and Byco Petroleum Ltd (11.58 million shares). actions).

The stocks contributing positively to the index were Systems Ltd (47.98 points), Habib Bank Ltd (42.41 points), Lucky Cement Ltd (27.44 points), Pakistan Petroleum Ltd (20.33 points) and Oil and Gas Development Company Ltd (14.36 points).

The stocks that removed the most points from the index are Colgate-Palmolive Pakistan Ltd (24.61 points), TRG Pakistan Ltd (15.59 points), Engro Corporation Ltd (9.97 points), Meezan Bank Ltd ( 7.87 points) and Fauji Fertilizer Company Ltd (6.94 points).

The stocks with the largest percentage increases included Yousaf Weaving Mills Ltd, which rose 6.77 pc, followed by Aisha Steel Mills Ltd (5.56 pc), Bannu Woolen Mills Ltd (5.07 pc) , International Steels Ltd (5.01 pc) and HBL Growth Fund (4.41 pc).

Foreign investors remained net sellers, as they sold stocks with a net worth of $ 2.33 million.

Posted in Dawn, December 18, 2021

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