Karachi: The Pakistan Stock Exchange (PSX) witnessed a positive trend on the last trading day of the week, where the KSE-100 index closed at 175,328.82 points with a gain of 399.14 points due to buying in selected large stocks.
At the beginning of the trading day, the market was at 175,232.70 points; however, due to selling pressure in the early hours, the index fell and at one point reached a low of 174,515.39 points.
Later, buying by investors increased, due to which the market overcame its initial weakness. During the trading session, the KSE-100 index also reached a high of 175,418.29 points and finally closed on a positive note.
Overall, the KSE-100 index recorded a gain of 0.23 percent. Out of the 100 companies included in the index, 56 shares increased in price, while 41 companies saw a decline in shares and 3 companies closed unchanged.
Trading activity in the market was also better than the previous session. About 259.37 million shares of companies included in the KSE-100 index were traded, while the overall market recorded a trade of about 874.32 million shares.
The total trading volume was more than 874 million shares, while the transaction value was about Rs 32.42 billion. This shows that along with the positive trend in the market, investor activity also increased.
The KSE-100 index received the most support from shares of commercial banks, oil and gas exploration and cement sectors. Buying in these sectors played a major role in keeping the market in the positive zone till the end of the day.
MEBL, BAHL, MARI, PPL and OGDC were the prominent companies that contributed positively to the index. These five companies added about 250 points to the index.
On the other hand, UBL, ATRL, PSEL, CNERGY and FFC put pressure on the index’s performance, which limited some of the overall market’s progress.
The broader market also remained positive. The All Share Index closed at 106,442.83 points with an increase of 236.26 points. Out of a total of 569 companies, 235 shares increased in price while 218 declined.
Meanwhile, the KMI-30 index also remained positive and closed at 250,239.14 points with an increase of 676.97 points or 0.27 percent. The index reached a high of 250,428.23 points during trading.
MEBL, MARI, PPL, OGDC and MLCF were prominent positive stocks in the KMI-30, while ATRL, PRL, FFC, EFERT and NRL contributed negatively to the index.
Friday’s trading shows that buying interest in selected stocks is picking up again in the market after the recent pressure. However, the significant volatility in the index during the day also indicates that investors are still taking positions cautiously.
In the upcoming trading sessions, the global financial situation, oil prices, geopolitical situations and domestic economic developments may influence the direction of the Pakistan Stock Exchange. Investors will now be watching whether the current buying trend continues or the market again comes under selling pressure for profit-taking.
