The Pakistan Stock Exchange (PSX) witnessed another positive session on Friday, as its benchmark KSE-100 Index closed higher by 366.71 points on a momentum lifted by rupee’s recovery against the US dollar and result announcements.
The KSE-100 broke the day higher and remained largely in the positively territory, hitting intra-day high of 50,952.67.
At close, the benchmark index settled at 50,731.87, up by 366.71 points or 0.73%.
Commercial banks, power generation and distribution, fertiliser, and cement sectors were major contributors in the session, brokerage house Ismail Iqbal Securities stated in its post-market report.
On Thursday, the KSE-100 closed above 50,000 after six years with massive 934-point gain.
Experts attributed the gain at the bourse to an appreciation of the local currency and satisfactory results announced by the companies in the first quarter of the current fiscal year.
