KARACHI: The Pakistan Stock Exchange (PSX) closed the week with a rise of almost 170 points on Friday, with the benchmark KSE-100 index.
As some industries faced selling pressure, the index fluctuated between red and green zones. Investors were worried about the slowing economy and continued devaluation of the Pakistani rupee, which stifled the market’s progress.
Investors are also looking forward to next week’s mini-budget statement, which will give the market a fresh direction.
Trading had started out on a negative tone, but the market was unable to maintain the pace, and the opening session was mostly range-bound. Despite this, the index managed to gain ground towards the close of the session.
The benchmark KSE-100 index climbed 169.48 points, or 0.39 percent, to 43,900.68 points today.
The benchmark KSE-100 index fluctuated within a range throughout the day, according to Topline Securities’ post-market analysis, as the index traded between its intraday high and low of 273 and 175 points.
HBL, Systems Limited, Lucky Cement, BAHL, and Pakistan Petroleum together contributed 137 points to the index, according to the report.
During the session, 327 businesses’ shares were exchanged. 180 scrips closed in the green, 132 in the red, and 15 stayed unchanged at the end of trade.
Overall trading volumes fell to 312.07 million shares, down from 398.09 million on Wednesday. During the day, Rs10.12 billion worth of shares were exchanged.
With 29.2 million shares traded, WorldCall Telecom was the most active, dropping Rs0.06 to settle at Rs2.15. Hum Network Limited came in second with 25.96 million shares traded, up Rs0.32 to Rs6.33, while Telecard Limited came in third with 17.5 million shares traded, down Rs0.10 to Rs15.65.