Stocks rally 297 points on ‘dollar commitments’

Share prices increased on Tuesday as investors welcomed the announcement regarding the inflows of dollars in the aftermath of the International Conference on Climate-Resistant Pakistan in Geneva. Topline Securities said the benchmark index stayed above the preceding day’s close throughout the trading session as Pakistan secured total pledges of over $10 billion from multilateral and bilateral creditors. According to Arif Habib Ltd, the stock market registered healthy volumes with bulls taking charge to reverse the downward trend in share prices. Refineries and cement companies remained in the limelight throughout the trading session, it added. As a result, the KSE-100 index settled at 40,801.51 points, up 296.75 points or 0.73 per cent from the preceding session. The overall trading volume increased 17.8pc to 214.3 million shares. The traded value went down 3.6pc to $29.8m on a day-on-day basis. Stocks contributing significantly to the traded volume included Cnergyico PK Ltd (18m shares), Unity Foods Ltd (17.2m shares), Pakistan Refinery Ltd (14m shares), TPL Properties Ltd (12.4m shares) and Pakistan Petroleum Ltd (9.1m shares).