Bulls again dominate at Pakistan Stock Exchange
The Pakistan Stock Exchange (PSX) continued its upward trajectory on Friday, buoyed by sustained buying interest from local institutional investors, reported 24NewsHD TV channel.
During intraday trading, the PSX’s benchmark KSE-100 index surged by 1,255.79 points, reaching 166,629.10 points. This marked a gain of 0.75 percent, reflecting strong investor confidence.
Investors are keeping a close eye on key sectors as optimism continues to drive market gains, with buyers stepping in to snap up promising stocks.
Out of 559 active companies, 292 were higher, 123 declined, and 144 remained unchanged.
An approval of the Asian Development Bank (ADB) $48 million loan for the Balochistan Water Resources Development Sector Project in Pakistan also put a positive impact on the market.
Earlier on Thursday, the benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) on Thursday continued its bullish momentum, surging by 2,184.78 points, a positive change of 1.34 percent, closing at 165,373.31 points.
A total of 498.36 million shares were traded in the ready market with a value of Rs30.59 billion, compared to 636.40 million shares worth Rs30.91 billion in the previous session. Market capitalization increased to Rs18.744 trillion from Rs18.512 trillion.
The leading companies in terms of ready-market turnover were Dost Steels Ltd. with 48.39 million shares, followed by WorldCall Telecom with 36.70 million shares, and Beco Steel Ltd. with 25.10 million shares.
The top gainers were PIA Holding Company Limited-B, which increased by Rs1,289.13 to close at Rs24,495.50, and Pakistan Services Limited, rising by Rs52.41 to close at Rs1,333.93.
Conversely, the major losers were Unilever Pakistan Foods Limited, which declined by Rs190.00 to close at Rs29,400.00, and Rafhan Maize Products Company Limited, decreasing by Rs29.99 to close at Rs9,370.00.
The top volume contracts in the futures segment were KEL-Dec with 44.79 million shares, followed by KEL-Nov with 43.64 million shares, and Cnergy-Dec with 27.23 million shares.
Reporter: Ashraf Khan