The Pakistan Stock Exchange (PSX) saw a notable rise on Friday, with the index rising by 1.43%, reaching 115,662.87 during daily trading at 12:45 p.m.
The KSE-100 index gained 1,625.08 points before the market was suspended for Friday prayers.
The market reached a high of 115,696.40 and a low of 114,383.16, showing strong positive movement throughout the day.
Trading volume totaled 144.6 million shares, indicating strong market activity and investor confidence.
The total value of shares traded amounted to approximately 12.88 billion. The previous close was 114,037.79, reflecting positive market sentiment and investor optimism.
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Source: PSX
Earlier on Thursday, the Pakistan Stock Exchange (PSX) saw a modest recovery, boosted by a rally during earnings season. This positive move was influenced by a drop in bond yields and expectations of a reduction in the industrial power tariff after the IMF approval.
Analysts also pointed to a current account surplus of $1.2 billion for July to December 2024, easing political risks and speculation around the State Bank of Pakistan’s upcoming monetary policy decision as catalysts for the rise.
The KSE-100 index hit a high of 114,320 points within the day before closing at 114,038, up 594 points (1.43%). Cement stocks and foreign corporate buying played a key role in this rise.
Analysts anticipate a 100 basis point rate cut at the next SBP policy meeting, which further fueled market optimism.
Top performers included Engro, PSO, Fauji Cement, Searle Company and Maple Leaf Cement, which contributed significantly to the index’s gain.
However, UBL, Fauji Fertilizer Company and Meezan Bank were among the major laggards. Cement and pharma stocks were standout performers during the day.
Despite the positive session, the KSE-100 declined by 1.07% week-on-week. Focus now shifts to Monday’s monetary policy meeting, where a 100bp rate cut to 12% is expected.
Overall, trading volume decreased to 675.5 million shares, with Cnergyico PK, WorldCall Telecom and Fauji Cement leading the market. Foreign investors were net sellers, offloading shares worth Rs77.4 million.
