KARACHI (Web desk) – After the Election Commission Pakistan (ECP) announced February 11 as election date, bulls asserted their dominance in the market on Thursday.
The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index gained 314.13, or 0.6 per cent, on Thursday from the previous close of 52,342.63 points.
Stocks have rallied for the fourth consecutive day, following the State Bank of Pakistan (SBP)‘s announcement to maintain its policy rate of 22 percent to contain inflation which was at par with most analysts’ expectations.
Additionally, October’s inflation clocked in at 26.9pc, which analysts said indicated that inflation would cool down in the near future.
Mohammad Sohail, chief executive of Topline Securities, said on a month-on-month basis, inflation had slowed down to 1.08pc versus the last three months averaging 2.4pc.
So far, major activity was reported in stocks such as Worldcall Telecom Limited, TPL Properties Limited, Pakistan Refinery Limited, Cnergyico PK Limited, and Ghani Global Holdings Limited.
The top advancers include Agritech Limited, TPL Corp Limited, TPL Properties Limited, Dandot Cement Company Limited and Leather Up Limited.
The top decliners include The Universal Insurance Company Limited, Premier Insurance Limited, Tri-Star Mutual Fund Limited, Pakistan Oxygen Limited and Masood Textile Mills Limited.