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KARACHI: The four-day bearish spell at the Pakistan Stock Exchange (PSX) finally snapped as the bulls staged a return and tossed the benchmark KSE-100 index over the 44,000-point barrier once again.
Investor participation revived at the bourse after the visit of Adviser to Prime Minister on Finance and Revenue Shaukat Tarin. Moreover, oil prices dropped to their two-month lows in the international market which also strengthened investors’ confidence.
The market opened on a positive note to reach an intraday high of 44,333.71, within the first hour of the session. However, the KSE-100 Index fell to an intraday low of 43,735.71. At close, the benchmark KSE-100 index rose 178.41 points, or 0.41%, to close at 44,114.16 points.
Shares of 338 companies were traded during the session. At the close of trading, 175 scrips closed in the green, 146 in the red, and 17 remained unchanged.
Overall trading volumes rose to 289.8 million shares compared with Thursday’s tally of 195.2 million. The value of shares traded during the day was Rs10.3 billion.
WorldCall Telecom was the volume leader with 34.2 million shares traded, the value remaining unchanged at Rs34.17. It was followed by TPL Properties with 17.2 million shares traded, gaining Rs0.50 to close at Rs43.23, and Byco Petroleum with 15.03 million shares traded, losing Rs0.01 to close at Rs6.43.