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Pakistan Stock Exchange closes gaining nearly 700 points

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Pakistan Stock Exchange closes gaining nearly 700 points
In Friday’s trading session, the Pakistan Stock Exchange’s benchmark KSE-100 index concluded at 66,130.02, marking an impressive gain of 679.83 points, or 1.04 per cent.

The positive momentum observed today is attributed to a series of significant developments, signalling potential avenues for attracting crucial foreign investments to alleviate the financial challenges faced by the nation.

Furthermore, the successful acquisition of Telenor by PTCL, valued at approximately $400 million, has contributed to bolstering market sentiments.

The KSE-100 index maintained its positive trajectory throughout the day, reaching an intraday high of 66,346.77 (+896.58) and a low of 65,559.49 (+109.30) points.

The total trading volume of the KSE-100 index surged to an impressive 984.029 million shares. Among the 100 index companies, 60 concluded with gains, 19 with losses, and 21 remained untraded.

Supporting sectors for the KSE-100 index included oil and gas exploration companies with 159.49 points, fertilisers with 109.49 points, commercial banks with 81.43 points, power generation and distribution with 61.16 points, and automobile assembly with 55.81 points.

On the flip side, the index faced challenges from leather and tanneries with 16.8 points, property with 3.22 points, automobile parts and accessories with 2.39 points, paper and board with 1.59 points, and textile composites with 1.33 points.

In the broader market, the All-Share index closed at 44,049.22, witnessing a net gain of 556.71 points.

The total market volume reached 1,741.362 million shares, a notable increase from the previous session, with a traded value recorded at Rs29.98 billion, reflecting a rise of Rs6.23 billion.

This marks the second-highest daily traded volume in the last decade, second only to May 2021.

During today’s session, there were 315,202 trades reported in 386 companies, with 258 closing up, 112 closing down, and 16 remaining unchanged.

It’s noteworthy that the KSE-100 has experienced a remarkable gain of 24,677 points, or 59.53 per cent, during the fiscal year, and the ongoing calendar year has seen a cumulative increase of 25,710 points, equivalent to 63.61 per cent.

However, on a weekly basis, the KSE-100 index concluded its 10-week-long streak with a marginal decline of 93.6 points, or 0.14 per cent WoW.

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