Bulls hold ground at Pakistan Stock Exchange

The Pakistan Stock Exchange (PSX) on Friday maintained its bullish trend amid cementing investor confidence and a positive macroeconomic outlook, reported 24NewsHD TV channel.

During intraday trading, the PSX’s benchmark KSE-100 index gained 543.53 points or 0.37% to reach 146,190.66 points.

Shares of 472 companies were traded so far, out of which 211 were up and 240 declined, while share prices of 21 companies remained unchanged. 

Investors remained upbeat, responding positively to a blend of encouraging macroeconomic indicators, ongoing policy reforms, and impressive quarterly earnings.

Earlier on Thursday, the benchmark index also recorded a bullish trend, gaining 558.64 more points, a positive of 0.39 percent, closing at 145,647.14 points.

A total of 712,527,450 shares were traded during the day as compared to 788,463,721 shares the previous trading day, whereas the price of shares stood at Rs 55.677 billion against Rs 52.780 billion on the last trading day.

As many as 483 companies transacted their shares in the stock market, 221 of them recorded gains and 235 sustained losses, whereas the share price of 27 companies remained unchanged.

The federal government’s decision to withdraw the controversial powers granted to the Federal Board of Revenue for arrest of traders has boosted the confidence of the business community.

Section 37A of the Finance Act has been amended, and now, no trader can be arrested without prior consultation with business stakeholders.

Reporter: Kawish Memon