KEY POINTS
- PSX continues bullish trend.
- 1,118,570,230 shares were traded.
ISLAMABAD: The Pakistan stock exchange continued to observe bullish trend on Friday as the KSE-100 index gained 121.29 pints before closing at 114,301.80.
The buying momentum was attributed to positive macroeconomic developments, especially the decline in Pakistan’s inflation rate to 4.9% in November. This reduction has fueled expectations of a further policy rate cut during the upcoming Monetary Policy Committee (MPC) meeting.
At 12pm, the first half of the trading session, the benchmark index was hovering at 112,955.04, a decrease of 1,225.46 points or 1.07%.
However, the market bounced back and gained 121.29 points, with a positive change of 0.11%, closing at 114,301.80 points as compared to 114,180.51 points on the last trading day.
On Friday a total of 1,118,570,230 shares were traded during the day as compared to 1,469,558,531 shares the previous trading day, whereas the price of shares stood at Rs 59.511 billion against Rs.67.278 billion on the last trading day.
As many as 461 companies transacted their shares in the stock market, 178 of them registered gains and 251 met losses, whereas the share price of 32 companies remained unchanged.
The three top trading companies were WorldCall Telecom 129,897,250 shares at Rs 1.79 per share, followed by Pak International Bulk with 75,509,313 shares at Rs 9.67 per share whereas Treet Corp settled with 47,769,875 shares at Rs.24.49 per share.
Unilever Pakistan Foods Limited recorded a maximum increase of Rs.162.39 per share price, closing at Rs.20,974.99, whereas Hoechst Pakistan Limited was the runner-up with Rs 140.93 rise in its per share price to Rs 2,815.00
Bhanero Textile Mills Limited witnessed a maximum decline of Rs 58.11 per share closing at Rs 791.89 followed by Al-Abbas Sugar Mills Limited with a decrease of Rs 26.56 to close at Rs.756.79.
Internationally, Asian shares fell on Friday as a strong dollar kept risk sentiment fragile, while longer-dated Treasury yields are heading for their biggest weekly rise this year as expectations for deep US rate cuts in 2025 recede.
A top-level meeting in Beijing pledged to increase debt and boost consumption but failed to boost Chinese equity markets.
Policymakers are girding for more trade tensions with the US as Donald Trump’s return to power approaches. It has been a week of rate cuts from Switzerland, Canada and the European Central Bank, which had rate differentials working in the favour of the US dollar.
