Islamabad, (TLTP): Pakistani stocks ended higher on Wednesday after the Securities and Exchange Commission of Pakistan readied to accommodate the demands of PSX Stockbrokers Association in the Securities Brokers (Licensing and Operations) Regulations, 2016.
Expectation of some positive news from FATF after Netherland’s pledge to support Pakistan attracted local investment; however, foreign investors withdrew around USD 5 million from the bourse.
A slight decline in the number of new coronavirus cases in China raised hopes to shore up the world’s second-largest economy and impacted Asian bourses positively. The number of new cases of coronavirus infection fell for the second consecutive day in China on Wednesday, though the death toll edged past 2,000.
The KSE 100 Index opened at 40,221.52 and closed at 40,574.52, gaining 399.17 points and inching up the bourse by almost one point. The market ranged between 40,175.35 and 40,644.06 throughout the day.
Unity, Hascol, DGKC, MLCF and TRG remained the top five active stocks with traded shares of 21.64 million, 10.08 million, 9.51 million, 7.53 million and 5.2 million respectively and all the five ended in green.
In Futures, a total of 70,435,500 shares valuing Rs. 2,787,239,510 were traded and number of trades remained 24,838. Likewise, a total of 87,223 shares valuing Rs. 4,087, 681 were traded in Odd Lot and number of trades remained 2,151.
The top gainer in the KSE 100 Index was ATRL, which gained 5.89% to close at 99.92, while the biggest loser was JLICL, which declined to Rs 400 after losing 4.53%.
The data related to Foreign Investors Portfolio Investment (FIPI) showed that foreign individuals, foreign corporate and overseas Pakistanis bought 646,622,226 shares and sold 1,416,290,350 shares, thus net FIPI remained Rs 770 million in negative. However, local investors came to fill the gap and bought 9,083,783,401 shares and sold 8,314,115,277 shares.
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