Friday, the Pakistan Stock Exchange (PSX) continued its upward trend, the Benchmark KSE-100 index winning 489.75 points, the current index at 131,176.40-an increase of 0.37% during intra-day trading.
The index reached an intraday summit of 131,411.40 and a minimum of 130,716.10 during the negotiation session.
The volume of negotiation amounted to 73.6 million shares, with a total value of more than 7.7 billion rupees, reflecting a sustained purchase activity in various sectors.
The Friday session followed a similar increased trend seen the day before, when the index closed at 130,686.65.
Earlier Thursday, KSE-100 index extended its ascending trajectory to close to a new summit of all time with the addition of 342.63 points.
Read: Stocks continue to make bulls, reach the fresh peak
The rally was led by indexed sectors, in particular oil and gas, bank and energy. However, global trading has remained mixed.
Among major triggers, Pakistan exchange reserves jumped from $ 5.1 billion to $ 14.5 billion by the end of fiscal year 25.
“The shares have closed above a new summit of all time after the government has reduced NSS (National Savings Scheme) rates, which will push investors to stocks, and the Forex reserves of the State Bank have reached $ 14.5 billion,” said Arif Habib Corp MD Ahsan Mehanti.
ARIF HABIB Limited (AHL) said that the KSE-100 index had undergone bidirectional volatility around the level of 130,000 but it managed to maintain the key level at the fence.
Some 53 actions have advanced while 46 decreased. The main contributors to index gains were the petroleum and gas development company (+ 2.77%), UBL (+ 1.32%) and the power of the hub (+ 2.26%).
On the other hand, the largest Laggards were Bank Al Habib (-4.14%), MCB Bank (-2.46%) and Meezan Bank (-1.6%), he said.
WorldCall Telecom was the volume leader with trade in 49.5 million shares, down RS0.02 to end at Rs1.59.
It was followed by Image Pakistan with 36.7 million shares, increasing RS2.87 to end at RS32.47 and the Punjab bank with 35.1 million shares, losing RS0.02 to end at Rs11.52.
Foreign investors have sold shares of a value of RS909M, the National Clearing Company reported.
