The Pakistan Stock Exchange (PSX) on Friday recorded significant gains smashing the 172,000 mark amid robust investors’ confidence driven by positive economic developments, reported 24NewsHD TV channel.
During intraday trading, the PSX’s benchmark KSE-100 index shot up by 1,295.19 points to climb to 172,125.41 points, marking a positive change of 0.66 percent.
Out of 562 companies, 273 recorded gains, 153 declined, while 137 remained unchanged.
The rally was driven by several factors, such as the release of loan tranches by the International Monetary Fund (IMF), interest rate cuts, and corporate earnings.
Key sectors of buying included automobile assemblers, cement, commercial banks, fertilizer, oil and gas exploration companies, OMCs, and refinery. Index-heavy stocks, including ARL, PRL, HUBCO, MARI, OGDC, PPL, PSO, WAFI, HBL, MCB, and NBP, traded in the green.
The market was closed on Thursday, 25 December, on account of a public holiday.
On Wednesday, the index closed bearish, losing 243.51 points, a negative change of 0.14 percent, to settle at 170,830.22 points.
The market witnessed a trading volume of 811.558 million shares with a traded value of Rs 29.795 billion, against 650.136 million shares valuing Rs 28.257 billion in the previous session. Market capitalization declined to Rs 19.361 trillion from Rs 19.397 trillion a day earlier.
Pakistan International Bulk Terminal topped the volume chart with 62.126 million shares, followed by Bank of Punjab with 61.349 million shares and PIA Holding Company with 54.392 million shares.
The top gainers included The Thal Industries Corporation Limited, which rose by Rs64.38 to close at Rs 789.47, and Unilever Pakistan Foods Limited, increasing by Rs42.00 to settle at Rs28,992.00.
On the losing side, PIA Holding Company Limited-B declined by Rs1,836.74 to close at Rs19,149.59, while Rafhan Maize Products Company Limited fell by Rs1,168.61 to close at Rs10,912.76.
Reporter: Kawish Memon