PSX ends week with a 170-point gain

PSX ends week with a 170-point gain

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Karachi: The Pakistan Stock Exchange (PSX) ended the week in a positive manner on Friday, with the benchmark KSE-100 index rising nearly 170 points.

The index fluctuates between the red and green areas due to selling pressure in certain sectors. Investors worry about weak economic growth and the continued depreciation of the Pakistani rupee, which hinders further market growth.

Investors are also paying close attention to the mini-budget announcement to be announced next week, which will bring new directions to the market.

Earlier, trading began to have a negative impact. However, the exchange failed to maintain its momentum and basically maintained range fluctuations on the first trading day. The index still ended the trading day with a rise.

Today, the benchmark KSE-100 index rose 169.48 points, or 0.39%, to close at 43,900.68 points.

A report from Topline Securities in its post-market commentary noted that the benchmark KSE-100 index traded within a range during the day as the index traded between its intraday high and low of 273 and 175 points.

“Major contribution to the index came from HBL, Systems Limited, Lucky Cement, BAHL and Pakistan Petroleum, as they cumulatively contributed 137 points to the index,” it said.

Shares of 327 companies were traded during the session. At the close of trading, 180 scrips closed in the green, 132 in the red, and 15 remained unchanged.

Overall trading volumes dropped to 312.07 million shares compared with Wednesday’s tally of 398.09 million. The value of shares traded during the day was Rs10.12 billion.

WorldCall Telecom led the market with 29.2 million shares trading volume, falling by Rs 0.06 at a price of Rs 2.15. Followed by Hum Network Limited, with a trading volume of 25.96 million shares, rose by 0.32 rupees to close at 6.33 rupees; Telecard Limited, with a trading volume of 17.5 million shares and a loss of 0.10 rupees, closed at 15.65 rupees.

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