The Pakistan Stock Exchange (PSX) on Friday stormed ahead with its robust bull-run, trampling the 169,000-mark barrier for the first time in its history as economic and geopolitical developments continued to boost investors’ confidence.
At 9:42 am, PSX’s benchmark KSE-100 Index recorded a gain of 1,107.51 points, or 0.65 percent, to reach 169,597.13 points, a historic high.
In total, 407 companies traded their shares so far, of which 244 recorded gains, 143 lost value, and 20 remained unchanged.
Analysts opined that liquidity from mutual funds was driving up the index.
There was FOMO (fear of missing out) and disbelief of a correction, they added.
They maintained economic sentiment is positive after improving US ties also.
Mid-caps with growth triggers are beginning to rerate, they added.
On Thursday, the Pakistan Stock Exchange (PSX) continued with bullish trend, as the benchmark KSE-100 index gained 2,849.29 points, showing a positive change of 1.72 percent, closing at 168,489.63 points.
A total of 1,573,381,774 shares were traded during the day compared to 1,639,021,153 shares the previous day, whereas the share value stood at Rs 70.19 billion against Rs 69.66 billion on the last trading day.
The three top-trading companies were Bank of Punjab with 148,116,348 shares at Rs 32.78 per share, WorldCall Telecom with 133,874,930 shares at Rs 1.82 per share, and K-Electric Ltd. with 115,986,210 shares at Rs 7.22 per share.
Unilever Pakistan Foods Limited witnessed a maximum increase of Rs 699.33 per share, closing at Rs 31,964.33, followed by Supernet Technologies Limited which rose by Rs 62.08 to close at Rs 1,556.41.
On the other hand, PIA Holding Company LimitedB recorded a maximum decrease of Rs 573.97 per share to close at Rs 25,026.03, followed by Rafhan Maize Products Company Limited which declined by Rs 111.26 to close at Rs 9,898.70.
