KSE-100 Index ends up 208 points in bullish trading

KSE-100 Index ends up 208 points in bullish trading

KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended up 208 points on Friday in bullish trading during the day.

The KSE-100 index ended at 41,794 points from previous day’s closing of 41,586 points, showing an increase of 208 points.

READ MORE: Pakistan equities end up 227 points as investors hopeful of IMF program

Analysts at Arif Habib Limited said that a positive session was recorded at the PSX to end the business week today.

The market opened in the green as bulls took over the index and proceeded to make an intraday high of 316.48 points on the back of expectations to reach a much awaited staff-level agreement with the IMF soon.

READ MORE: Pakistan stocks gain 24 points in mixed sentiments

The index maintained the bullish momentum as Pak Rupee gained strength against the US dollar giving the investors a confidence boost as a result of which substantial volumes were observed across the board with third tier stocks leading the volume board.

READ MORE: Pakistan stocks shed 100 points due to prevailing political unrest

Sectors contributing to the performance include Commercial Banks (+70.8 points), Fertilizer (+36.0 points), Technology & Communication (+35.3 points), Inv. Banks / Inv. Cos. / Securities Cos. (+16.8 points), and Textile Composite (+14.7 points).

Volumes increased from 229.1 million shares to 272.8 million shares (+19.1 per cent DoD). The average traded value decreased by -8.4 per cent to USD 24.1 million as against USD 26.3 million.

READ MORE: Stocks gain 97 points as investors hope IMF program approval

Stocks that contributed significantly to the volumes are FFL, TELE, WTL, TPLP, & GGL.