Share prices consolidate gains at Pakistan Stock Exchange

The Pakistan Stock Exchange (PSX) on Friday continued its bullish momentum amid stabilizing foreign exchange reserves and positive economic indicators, reported 24NewsHD TV channel.

During intraday trading, the PSX’s benchmark KSE-100 index gained 489.75 points to reach all-time high of 131,176.40 points, with a positive change of 0.37 percent. At the close of business, the index gained 1,197.97 points or 0.91 percent to 131,884.62 points.

Market analysts attributed the bullish momentum to rising investor confidence and encouraging developments in key economic indicators.

Experts suggested that the current upward trend in investment is likely to continue, with expectations of further market gains in the days ahead.

Earlier on Thursday, the index also recorded bullish trend, gaining 342.63 points, a positive change of 0.26 percent, and closing at 130,686.66 points.

The rally was led by index-heavy sectors, particularly oil & gas, banking and power. However, overall trading remained mixed.

A total of 899,849,566 shares worth Rs43.252 billion were traded during the day.

Notable gains were witnessed in the oil & gas and power sectors where Oil and Gas Development Company, UBL, Hub Power, Pakistan Petroleum, and Askari Bank added the most points. 

As many as 468 companies transacted their shares in the stock market, 216 of them recorded gains and 236 sustained losses, whereas the share price of 16 companies remained unchanged.

WorldCall Telecom was the volume leader with trading in 49.5 million shares, falling Rs0.02 to close at Rs1.59. It was followed by Image Pakistan with 36.7 million shares, rising Rs2.87 to close at Rs32.47, and The Bank of Punjab with 35.1 million shares, losing Rs0.02 to close at Rs11.52. Foreign investors sold shares worth Rs909 million, the National Clearing Company reported.

Reorter: Kawish Memon