Karachi – The Pakistan Stock Exchange (PSX) witnessed a significant rally on Friday, with the KMI-30 index closing at 250,496 points, up 3,930 points. The positive trend in the market is being attributed to rising investor confidence and strong buying in major sectors.
The index opened at 247,571 points at the start of trading and touched a high of 250,866 points during the day. The market closed near its high in the closing session due to continuous buying.
According to the data, the KMI-30 index recorded a growth of 1.59 percent while the total trading volume of the index’s constituent shares stood at 141.11 million shares. The index has been performing strongly since the beginning of the financial year with a growth of 35.49 percent.
The most positive role in the market was played by Fauji Fertilizer Company (FFC), which added 1,169 points to the index. Engro Holdings, Lucky Cement, Engro Fertilizer and Mari Petroleum also played a significant role in pushing the market higher.
On the other hand, Pakistan Petroleum Limited (PPL), Systems Limited, Attock Refinery, National Refinery and Searal Company were among the stocks that negatively impacted the index, however, the overall bullishness kept the market direction positive.
According to economic analysts, investors are optimistic about the upcoming fiscal policy, economic stability and potential growth in the industrial sector, due to which market activity is increasing.
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