ISLAMABAD: The Pakistan Stock Exchange (PSX) observed strong buying on Friday, as the benchmark KSE-100 Index closed the trading day by 1,049 points, a positive change of 0.93 percent.
“This positivity can be attributed to the recent decline in the market that created room for value investors to buy the dip. Rally in the market today was led by the banking sector as it gained to close 2.2% higher,” brokerage house Topline Securities said in its post-market report.
“Top positive contribution to the index from the banking sector came from UBL, NBP, BAHL, MEBL, AKBL, and HBL, as they cumulatively contributed 621 points to the index,” it added.
On Friday the (PSX) continued with a bullish trend and closed at 114,255.73 points as compared to 113,206.40 points on the last trading day.
A total of 543,124,378 shares were entertained during the day as compared to 483,939,931 shares the last working day, whereas the price of shares stood at Rs 27.973 billion against Rs 26.103 billion on the previous working day.
As many as 454 companies transacted their shares in the stock market, 234 of them registered gains, and 164 met losses, whereas the share price of 56 companies remained unchanged.
The three top trading companies were Sui Cnergyico PK with 66,683,225 shares at Rs 7.75 per share followed by WorldCall Telecom with 37,804,093 shares at Rs 1.64 per share whereas Bank Hakramah settled with 18,549,052 shares at Rs 3.75 per share.
ALSO READ: Positivity Returns to PSX, KSE-100 Gains 1,719 Points
Ismail Industries Limited witnessed a maximum increase of Rs 97.89 per share closing at Rs 1,947.89 whereas PIA Holding Company Limited was the runner-up with Rs 89.07 rise in its share price to close at Rs 979.73.
Unilever Pakistan Foods Limited witnessed a maximum decline of Rs 81.50 per share price, closing at Rs 22,305.50, whereas the runner-up was Mehmood Textile Mills Limited with a decrease of Rs 28.14 in its per share price to Rs 644.24.
On Thursday, buying returned to the PSX after three negative sessions as the KSE-100 closed the day with a gain of over 1,700 points at 113,206.40.
Globally, Asian shares wavered on Friday, weighed down by the return of tech-heavy South Korean stocks from holidays, but relatively strong earnings from US tech giants kept risk sentiment intact. At the same time, tariff threats pushed the dollar and gold prices higher.
