Pakistan Stock Exchange (PSX) witnessed a notable recovery on Friday as 100 Index recorded a gain of 4898 points at the end of the market time, reported 24NewsHD TV channel.
PSX 100 Index closed at 161,631 with a gain of 3.13%. The high of the 100 index was 162,194. The low of the 100 index was 158,195. Overall 877.8 million shares worth Rs 39.69 billion were traded in the stock market. Shares of 372 companies rose in the market, 77 declined and 37 remained stable.
During the intraday trading, the PSX’s benchmark KSE-100 index gained 2,746.62 points, a positive change of 1.72 percent to reach 159,479.49 points. This followed a sharp decline of 1,732 points the previous day, which had sent shockwaves through the market.
Despite yesterday’s loss, the PSX's recovery today highlighted the market's resilience and its potential for a positive outlook moving forward, with investors closely monitoring economic indicators and corporate earnings. A total of 439 companies transacted their shares in the stock market so far, out of which 360 recorded gains, 64 sustained losses, while 15 remained unchanged.
Stock analysts attributed the strong recovery on account of optimism on the IMF Executive Board meeting scheduled to consider the Extended Fund Facility (EFF) programme, where the market expects smooth approval.
Earlier on Thursday, the KSE-100-Index continued with a bearish trend, losing 1,732.19 points, a negative change of 1.09 percent, closing at 156,732.87 points. A total of 848.303 million shares were traded compared to 951.840 million shares on the previous day, whereas the total value of shares traded was recorded at Rs37.61 billion against Rs41.31 billion.
As many as 475 companies transacted their shares in the stock market; 148 recorded gains, 293 sustained losses, and 34 remained unchanged.
The Bank of Punjab led the volume chart with 84.182 million shares, followed by WorldCall Telecom with 50.188 million, and K-Electric Ltd. with 47.800 million shares. In the gainers’ column, Supernet Technologies Limited increased by Rs118.17 per share to close at Rs1,602.56, followed by S.S. Oil Mills Limited, which gained Rs42.13 to close at Rs463.41.
Among the top losers, PIA Holding Company LimitedB witnessed a decrease of Rs333.33, closing at Rs23,966.67, while Unilever Pakistan Foods Limited declined by Rs297.14, ending at Rs28,633.75.
Reporter: Basim Iftikhar