<\/p>\n
Shares at the Pakistan Stock Exchange gained 300 points on Wednesday ahead of tomorrow\u2019s general elections.<\/p>\n
According to the PSX website, the KSE-100 index gained 344.86 points, or 0.54 per cent, to close at 64,143.87 from the previous close of 63,799.01.<\/p>\n
Mohammed Sohail, chief executive of Topline Securities, said the market \u201crallied as it expected smooth elections\u201d.<\/p>\n
He added that uncertainty regarding the polls had lifted and it seemed all was \u201cset for elections\u201d.<\/p>\n
Shahab Farooq, director of research at Next Capital Limited, however, said that the \u201cmarket today was largely lacklustre with elections tomorrow\u201d.<\/p>\n
He added that the market would likely resume positive momentum post-elections, with \u201cgood results and payouts already announced\u201d and more to come soon.<\/p>\n
Awais Ashraf, director of research at Akseer Research, said the activity was \u201cprimarily driven by stocks expected to yield favourable results and dividends in the upcoming results\u201d.<\/p>\n
However, he added that investors had reduced their positions in Oil and Gas Development Company (OGDC) \u2014 noted to be the largest negative contributor in the index\u2014 due to \u201cconcerns about the potential rollback of the circular debt settlement through cash dividend submitted to the International Monetary Fund (IMF)\u201d.<\/p>\n
He highlighted that Pakistan Petroleum Limited (PPL) made gains over \u201canticipation of improved recoveries\u201d after the hike in gas prices was approved by the Oil and Gas Regulatory Authority (Ogra) in line with IMF conditions.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Shares at the Pakistan Stock Exchange gained 300 points on Wednesday ahead of tomorrow\u2019s general elections. According to the PSX website, the KSE-100 index gained 344.86 points, or 0.54 per cent, to close at 64,143.87 from the previous close of 63,799.01. Mohammed Sohail, chief executive of Topline Securities, said the market \u201crallied as it expected […]<\/p>\n","protected":false},"author":2,"featured_media":57349,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/i.dawn.com\/large\/2024\/02\/071601155a6c4b6.jpg?r=161439","fifu_image_alt":"","footnotes":""},"categories":[10],"tags":[],"class_list":["post-57348","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pakistan"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/57348","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/comments?post=57348"}],"version-history":[{"count":0,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/57348\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media\/57349"}],"wp:attachment":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media?parent=57348"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/categories?post=57348"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/tags?post=57348"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}