The Pakistan Stock Exchange (PSX) registered a sharp recovery on Friday and gained more than 1,100 points a day after witnessing a bearish trend due to panic selling by investors, reported 24NewsHD TV channel.
Till Friday prayers break, the PSX’s benchmark KSE-100 Index gained 1,139.73 points to reach 150,374.99, reflecting a 0.76 percent increase.
As many as 486 companies traded so far, share prices of 301 companies went up and shares of 137 companies declined, while 14 remained unchanged.
The positive momentum was driven by buying interest across key sectors. However, experts have warned of volatility during the day amid potential profit-taking by investors on last day of the business week.
On Thursday, the KSE-100 Index had turned around to bearish trend, losing 1,355.74 points, a negative change of 0.90 percent, closing at 149,235.26 points.
As many as 480 companies transacted their shares in the stock market, 130 of them recorded gains and 323 sustained losses, whereas the share price of 27 companies remained unchanged.
The three top trading companies were Fauji Foods Limited with 62,087,443 shares at Rs 16.94 per share, Pak Elektron with 57,228,568 shares at Rs45.36 per share and Telecard Limited with 56,939,244 shares at Rs 8.34 per share.
Service Industries Limited witnessed a maximum increase of Rs 54.75 per share price, closing at Rs 1,300.55, whereas the runner-up was Indus Motor Company Limited with Rs52.76 rise in its per share price to Rs2,292.62.
Unilever Pakistan Foods Limited witnessed a maximum decrease of Rs883.72 per share closing at Rs 31,511.11 followed by The PIA Holding Company LimitedB with Rs377.90 decline in its share price to close at Rs27,501.00.
Reporter: Basim Iftikhar