Pakistan stocks end up 123 points in range bound activity

KARACHI: Pakistan stocks remained range bound on Friday and ended the week with a gain of 123 points.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,948 points from previous day’s closing of 41,825 points, showing a gain of 123 points.

Analysts at Ismail Iqbal Securities said that Pakistan equities remained range bound today and closed positive.

Market largely traded in the positive zone during the trading session, where index gained to make an intraday high of 275 points and finally settled at 41,986 level (up by 0.29 per cent), analyst at Topline Securities said.

Major contribution to the index came from TRG, POL, FFC, MEBL and PAKT, as they cumulatively contributed 125 points to the index.

KAPCO in the power sector garnered investor interest after its notice to the exchange in which it disclosed that its Power Purchase Agreement (PPA) has been extended till September 21, 2024, where around 12.8 million shares of the company exchanged hands and it closed 1.5 per cent higher from its previous day close.

Increased participation was observed in the market as traded volume and value for day stood at 146 million shares (up by 34 per cent on DoD basis) and Rs7.11 billion (up by 62 per cent on DoD basis) respectively.

TRG led the volumes at the exchange with 15 million shares.