Karachi (TDI): After significant losses in the last four-day week, the stock market and the benchmark KSE 100 index partially started recovery.
Topline Securities Ltd said the recovery was observed as the index traded mainly in the positive zone to close at the 111,351 level, up 927.86 or 0.84 per cent, according to dawn.com.
The top contribution to the index reportedly came from Mari Petroleum, Meezan Bank, PSO, Bank Alflah and TRG Pakistan, which contributed 416 points.
TRG remained in the limelight as disclosure concerning Greentree Holdings’ (substantial shareholder) intention to buy up to 35.145pc stake in TRG Pakistan garnered investor interest.
Stock Market and Positive Factors
Strong rupee, reports of surging exports, higher global crude oil prices and the falling government bond yields amid thin inflation bolstered investor sentiments, analysts maintain.
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Stocks contributing significantly to the traded volume included Fauji Foods (104.42m shares), WorldCall Telecom (74.13m shares), Cnergyico PK (40.46m shares), TRG Pakistan (40.06m shares) and Hascol Petroleum (34.62m shares).
The shares registering the most significant increases in their share prices in absolute terms were Hoechst Pakistan (Rs147.06), Ismail Industries (Rs79.71), Bata Pakistan (Rs53.65), Sapphire Textile (Rs36.86) and Faisal Spinning Mills (Rs28.83).
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The companies registering significant decreases in their share prices in absolute terms were Rafhan Maize (Rs113.46), Nestle Pakistan (Rs53.11), Premium Textile (Rs27.22), Haleon Pakistan (Rs23.20) and Mitchells Fruit Farm (Rs21.44), the report said.
