KARACHI: Due to the keen interest of investors in the fertilisers and energy sector, the Pakistan Stock Exchange (PSX) opened in the green zone. By 12:43 PM, the benchmark KSE-100 index reached 40,988.78 points after gaining 568.33 points.
Zafar Moti, former director of PSX, added that news about the opening of letters of credit (LCs) and the decision by the State Bank of Pakistan to ease the import of essential items has also uplifted the market.
Urea fertilisers have been high in demand, and their prices have increased by 8 per cent. Engro Fertilisers Limited stated that their urea compost brand would now be available at Rs2,440 per 50 kilograms (an increment of Rs190 per bag).
At 11:10 AM, the shares of Engro Fertilisers Limited surged by 4.47 per cent (Rs3.44). Pakistan Petroleum Limited also performed well as their shares went up by 6.40 pc (Rs4.36). Shares of Cynergyico Pk Limited and Sui Northern Gas Pipelines went up by 5.15 pc and 4.55 pc respectively.