On Friday, the Pakistan stock market witnessed a rise of 117 points as politicians came together to resolve election issues.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 41,581 points, showing an increase of 117 points from the previous day’s closing of 41,464 points.
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According to analysts at Arif Habib Limited, the PSX ended the business week on a positive note, with the market opening in the green and trading in the same territory throughout both sessions. The clarity on the political front drove investors to take positions in the market, resulting in the index making an intraday high of 326.77 points as exceptional corporate results kept the banking sector in the limelight.
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The sectors that contributed to the market’s performance included Commercial Banks (+69.2 points), Pharmaceuticals (+40.0 points), Inv. Banks / Inv. Cos. / Securities Cos. (+15.2 points), Food & Personal Care Products (+13.4 points), and Refinery (+12.7 points). Meanwhile, the volumes increased from 169.1 million shares to 268.1 million shares (+58.5 percent DoD), and the average traded value increased by +43.7 percent to USD 31.6 million as against USD 22.0 million.
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The stocks that significantly contributed to the volumes were CNERGY, PRL, SILK, WTL, and TELE.
In conclusion, the Pakistan stock market experienced a positive session on Friday, with politicians coming together to resolve election issues, driving investor confidence. However, it is important to keep an eye on the market’s performance and trends before making any investment decisions.
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