KARACHI: On the penultimate day of the trading week, the Pakistan Stock Exchange (PSX) continued its bull run, jumping over 200 points as market players cherry-picked equities that had fallen to reasonable levels.
Despite the country’s current political turmoil, which includes a no-confidence move against Prime Minister Imran Khan and soaring inflation, investors have taken new positions.
The Pakistan Bureau of Statistics (PBS) provided inflation figures based on the consumer price index (CPI), which jumped to 12.7 percent during the session. Meanwhile, in the interbank market, the rupee broke through the 184-mark, falling to an all-time low of Rs184.09 versus the US dollar.
Market participants, on the other hand, disregarded all bearish signals and reported nominal gains in expectation of positive financial results for the quarter ending March 31, 2022, as well as a drop in worldwide oil prices.
The KSE-100 index rose 223.28 points, or 0.5 percent, to 45,152.11 points at the closing.
During the session, 364 shares were exchanged. 183 scrips closed in the green, 149 in the red, and 32 stayed unchanged at the end of the trade.
Overall trading volumes fell to 389.11 million shares, down from 415.63 million on Thursday. During the day, Rs11.1 billion worth of shares was exchanged.
With 35.43 million shares traded, Telecard Limited was the most active, earning Rs0.26 to end at Rs14.43. TPL Properties came in second with 26.36 million shares traded, up Rs0.62 to Rs20.82, while Treet Corporation came in third with 24.86 million shares traded, up Rs0.47 to Rs34.40.