Investors
feared the decline in global oil prices, which imposed the direction of the
market. With the last-minute effort, the KSE-100 index managed to rise 41.40
points (0.13%) and closed at 32464.23.
With Oil
& Gas Exploration (E&P) and oil trading companies in the spotlight from At the start, the market opened in deep red 529 pips and remained under pressure.
Most investors decided to stay on the sidelines, which resulted in a lower
trading volume.
The cement the sector continued to attract buyers' attention, as the government’s decision to
open the building was supplemented by widespread news in the market that
factories in the northern region would increase the price of the bag.
Investors
believe that in the future it will offset the sad quarterly results for March.
Sentiment in cement also reinforced lower interest rates and lower
international coal prices.
The bank
also moved after several sessions when two of the major bank MCB and Habib,
announced their financial results for the quarter ended March 31. According to
the latest figures released by SBP, foreign investors sold $ 46 million per T
bill on April 21 to $ 94 million in fiscal 20 so far. Some strategists expect
money to flow into the stock market in the future.
Funds and
individuals swapped roles when the former bought shares with a net worth of $
3.72 million, while individuals sold shares valued at $ 2.64 million. Net
external inflows abroad amounted to $ 1.25 million.
According to
Aref Habib Company Ltd., the sectors that contributed to the rise of the index
included cement up to 74 points and banks 44 points, while losses were observed
in E&P, 54 points, banks 33 points, and energy 23 points. In cement, Pioneer
rose 7.5 pieces and Victo closed 7.5 pieces at the high end
0 Comments