Pakistan stocks market stayed in the green zone today as SBP kept the policy rate unchanged

Market stayed in the green zone today as SBP kept the policy rate unchanged at 9.75% in Mar’22 Monetary Policy meeting. State Bank of Pakistan (SBP) held its benchmark interest rate steady for the second meeting in a row as inflationary concerns cooled a bit, but it did hint at the possibility of an early huddle in case any economic fallout of Russia-Ukraine war spills over into the country. Cement sector stayed in the red zone due to mounting international coal prices. In the last trading hour, value buying was observed.

The Index closed at 43,042.96pts as against 42,878.35pts showing an increase of 164.61pts (+0.38% DoD). Sectors contributing to the performance include Technology (+74.6pts), Fertilizer (+63.0pts), E&P (18.1pts), Cement (+12.5pts) and Automobile & Parts (+5.8pts).

Volumes decreased from 226.1mn shares to 183.7mn shares (-18.8% DoD). Traded value also decreased by 14.8% to reach US$ 34.0mn as against US$ 39.9mn.

Stocks that contributed significantly to the volumes include GGL, PIBTL, TPLP, TELE and TPL.

Courtesy- AHL


 

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