The Pakistan Stock Exchange (PSX) witnessed a rally on Friday with the KSE-100 index gaining 1,020.04 points, or 0.9 per cent, to reach 114,856.78 points during intraday trading.
The market hit a high of 114,960.52 points and fell to a low of 113,571.95 during the trading session.
The trading volume amounted to 94,340,778, for a total value of 10,212,346,025.
The market closed yesterday’s session at 113,836.74. This rise signifies a positive change in investor sentiment, indicating a steady market recovery.
The rally coincided with the announcement of the verdict in the £190 million case which saw Pakistan Tehreek-e-Insaf (PTI) founding chairman Imran Khan sentenced to 14 years in prison.
Earlier, the stock market closed lower on Thursday with the KSE-100 index losing 659 points (0.58%) to settle at 113,836.74.
This decline is due to weak economic indicators, notably a 1.3% contraction in the large-scale manufacturing (LSM) sector between July and November 2024, which contributed to dampening investor confidence.
Concerns over the State Bank of Pakistan’s cautious monetary policy, rupee instability and continued political uncertainty put additional pressure on the market.
Major contributors to the decline include stocks such as PPL, PSO and Fauji Fertilizer Company, while Engro Holdings, Habib Metropolitan Bank and Pakgen Power posted gains.
Despite the negative market development, analysts suggest a potential rebound if political issues are resolved and economic stability improves.
Overall trading volumes stood at 469 million shares, with a total value of Rs25 billion. Foreign investors sold shares worth Rs902.4 million during the session.
