Karachi: Trading ended on a positive note on Friday at the Pakistan Stock Exchange (PSX), where investors bought large and fundamentally strong stocks, leading to a significant increase in the market. Both the major indices, KSE-100 and KMI-30, closed at strong levels on increased activity in the banking, cement and energy sectors, reflecting investor confidence in the market.
At the end of trading, the KSE-100 index closed at 182,241.78 points, up 982.10 points, or 0.54 percent. During the trading session, the index touched a high of 183,477.57 points, while the low was recorded at 181,880.55 points. The total trading volume of shares of companies included in the index was 412.98 million shares, indicating active investment in the market.
On the other hand, the KMI-30 index also closed at 256,914.21 points, up 1,306.68 points, or 0.51 percent. The highest level of the index during the trading session was 258,977.94 points, while the lowest level was 256,670.76 points. The trading volume of shares of companies included in the index was recorded at 109.86 million shares.
The most prominent role in the positive trend of the market was played by Meezan Bank (MEBL), which provided the most support to both the indices. Apart from this, buying in shares of United Bank (UBL), Habib Bank (HBL), MCB Bank (MCB), Allied Bank (AKBL), Ghani Global (GHNI), Lucky Cement (LUCK), Pakistan State Oil (PSO) and Mari Energies (MARI) also improved the overall performance of the market. On the other hand, shares of SAZEW, SNGP, SRVI, HMB, ATRL, SSGC, MEHT and HCAR saw limited pressure; however, their impact on the overall market could not change the positive trend.
According to market analysts, this rally at the end of the business week is a sign that investors are still interested in companies with strong financial fundamentals. According to them, if economic indicators, corporate results and the policy environment remain favourable next week, there is a possibility of maintaining the positive momentum in the Pakistan Stock Exchange; however, investors should adopt a cautious investment strategy, keeping in mind the short-term volatility.
