ISLAMABAD: After days of selling, the Pakistan Stock Exchange (PSX) observed a bullish trend on Friday, as the benchmark KSE-100 Index gained 927.86 points showing a positive change of 0.84 percent.
The PSX settled at 111,351.18 points as compared to 110,423.32 points on the last trading day.
Overall 815,920,043 shares were traded during the day as compared to 628,026,201 shares the previous trading day, whereas the price of shares stood at Rs 32.917 billion against Rs. 33.582 billion on the last working day.
The buying was observed in key sectors including automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs, power generation, and refineries. Index-heavy stocks including HUBCO, PSO, SHEL, SNGP, MARI, OGDC, PPL, MEBL, MCB, and NBP traded in the green.
On Friday as many as 443 companies transacted their shares in the stock market, 223 of them registered gains, and 176 met losses, whereas the share price of 44 companies remained unchanged.
The three top trading companies were Fauji Foods Limited with 104,428,605 shares at Rs 17.08 per share, followed by WorldCall Telecom with 74,132,809 shares at Rs 1.71 per share whereas Cnergyico PK settled with 40,469,493 shares at Rs.6.52 per share.
Hoechst Pakistan Limited witnessed a maximum increase of Rs.147.06 per share price, closing at Rs 2,847.06, whereas Ismail Industries Limited was the runner-up with Rs 79.71 rise in its per share price to Rs 1,964.71.
Rafhan Maize Products Company Limited witnessed a maximum decline of Rs 113.46 per share closing at Rs 8,888.44 followed by Nestle Pakistan Limited with a fall of Rs 53.11 to close at Rs.7,377.70.
On Thursday, PSX remained under pressure and closed in deep red due to heavy selling on investor concerns over year-end portfolio adjustment.
The benchmark KSE-100 Index plunged by 1,991.49 points or 1.77% and closed at 110,423.32 points.
Globally, Asian stocks wobbled on Friday while the dollar was steady, keeping the yen rooted near five-month lows in thin year-end trading as investors looked ahead to 2025 when the Federal Reserve is expected to be measured in its interest rate cuts.
