On Friday, Pakistan’s stock market witnessed a positive trend as sentiments were boosted by the court’s decision to grant bail to former Prime Minister Imran Khan.
The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed at 41,488 points, reflecting a gain of 162 points compared to the previous day’s closing.
Analysts at Arif Habib Limited reported that the PSX had a favorable trading session, concluding the business week on a positive note. The market opened with optimism, as investors awaited the Supreme Court’s verdict on Imran Khan’s petition.
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The clarity provided by the Islamabad High Court’s approval of the bail petition had a positive impact on the political front.
Investor activity was variable throughout the session, but mainboard volumes remained respectable. Various sectors contributed to the overall market performance, including Cement, Investment Banks/Companies/Securities Companies, Paper & Board, Food & Personal Care Products, and Oil Marketing Companies.
Trading volumes experienced a slight decrease from 96.9 million shares to 89.5 million shares, representing a 7.6% decrease compared to the previous trading day. However, the average traded value increased by 23.3% to USD 11.9 million, compared to USD 9.6 million.
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Several stocks significantly contributed to the trading volumes during the session. These included WTL, MLCF, SNGP, OGDC, and DGKC.
The Pakistan stock market showed a positive trend on Friday following the news of former Prime Minister Imran Khan being granted bail. The market opened with optimism, and the approval of the bail petition brought clarity to the political landscape. Sectors such as Cement, Investment Banks/Companies/Securities Companies, and Paper & Board contributed to the market’s overall performance.
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While trading volumes experienced a slight decrease, the average traded value increased. It will be important to monitor future developments to assess the market’s trajectory in the coming days.
