The Pakistan Stock Exchange (PSX) witnessed a notable rise on Friday with the index rising by 1.43 per cent to 115,662.87 during intra-day trading at 12:45 p.m.
The KSE-100 index gained 1,625.08 points before the market was suspended for Friday prayers.
The market reached a high of 115,696.40 and a low of 114,383.16, showing strong positive movement throughout the day.
Trading volume totaled 144.6 million shares, indicating robust market activity and investor confidence.
The total value of shares traded was approximately 12.88 billion. The previous close was 114,037.79, reflecting positive market sentiment and investor optimism.
Source: PSX
Earlier on Thursday, the Pakistan Stock Exchange (PSX) saw a modest recovery, driven by a rally during the earnings season. This positive move was influenced by a decline in bond yields and expectations of a reduction in industrial power tariffs following the IMF approval.
Analysts also highlighted a current account surplus of $1.2 billion for July-December 2024, easing political risks and speculation surrounding the State Bank of Pakistan’s upcoming monetary policy decision in as catalysts for the surge.
The KSE-100 index hit an intra-day high of 114,320 points before closing at 114,038, up 594 points (1.43%). Cement stocks and corporate foreign purchases played a key role in the rise.
Analysts anticipate a 100-point rate cut in the upcoming SBP policy meeting, which has further fueled market optimism.
The top performers included Engro, PSO, Fauji Cement, the Searle Company and Maple Leaf Cement, which contributed significantly to the index’s gain.
However, UBL, Fauji Fertilizer Company and Meezan Bank were among the major laggards. Cement and pharmaceutical stocks were standout performers during the day.
Despite the positive session, the KSE-100 fell 1.07% week-on-week. The focus now shifts to Monday’s monetary policy meeting, where a 100bp rate cut to 12% is expected.
Overall, trading volume decreased to 675.5 million shares, with Cnergyico PK, WorldCall Telecom and Fauji Cement leading the market. Foreign investors were net sellers, offloading shares worth Rs77.4 million.
