KARACHI: Following the PTI’s decision to cancel the “Azadi March,” the bulls returned to the Pakistan Stock Exchange, with the benchmark KSE-100 gaining almost 500 points and closing the day at 42,541 points.
In its post-session analysis, Arif Habib Limited said that the “much-needed clarity on the political front” caused investors to cheer and ended the “week-long bearish trend.”
“Despite starting in the red zone, bulls grabbed control as investors gained essential confidence from the Opposition party’s decision to put off the long march.” Throughout the day, investors opted for value purchasing, resulting in positive momentum across the board. “The market saw healthy volumes, while third-tier equities were more active,” the business said.
The KSE-100 index began the day at 42,012.66 points and ended the day at 42,541.71 points, representing a 1.26 percent move in the market.
A total of 351 company shares were exchanged, with 263 ending in the green zone, 63 in the red, and 25 remaining unchanged.
Overall trading volume increased to 347.06 million shares, up from 240.04 million on Wednesday. The total value of shares exchanged that day was Rs9.04 billion.
Technology (+347.1 points), cement (+73.7 points), banks (+63.1 points), fertiliser (+32.1 points), and OMCs (+29.5 points) all contributed to the performance.
With 35.66 million shares traded, Pakistan Refinery was the volume leader, earning Rs1.17 to end at Rs17.88. Cnergyico PK came in second with 19.64 million shares traded, earning Rs0.33 to end at Rs5.59, while Telecard Limited came in third with 18.44 million shares traded, gaining Rs0.64 to close at Rs11.70.
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