PSX gains 206 points to end week on positive note

KARACHI: Pakistan Stock Exchange (PSX) on Friday surged by 206.07 points to end the week on a positive trajectory.

The KSE 100 index surged in early trading but slipped soon afterwards, reaching its lowest point of 47,627.61 points.  It gained 206.07 (0.43%) and closed at 47,834.33 points to end the week on a positive trend. The total volume of shares was 109.205 million valued at Rs7.196bn.

The lower-bench KSE 30 index increased by 91.36 (0.48%) points and closed at 19,210.35 points. The total volume of shares was 42.906 million. The KMI 30 index increased by 432.68 points (0.56%) and closed at 77,692.24 points, while the All-Share Index increased by 125.65 points (0.39%) and closed at 32,564.80 points.

The most active stock was TPL Corp Ltd (TPL 2.70%) which saw 29.692 million shares traded at the stock market. This was followed by Al Shaheer Corporation Ltd (ASC 2.32%), Treet Corporation (2.32%), and Unity Food Ltd (UNITY 1.03%). The total volume of scripts was 17.754 million, 17.092 million, and 16.983 million respectively.

Investor sentiment has been buoyed after a rise in COVID-19 cases in the country, particularly in Karachi. Eurobond proceeds of $1 billion also propped up the SBP’s foreign currency reserves to the highest level since 2017.

The government has also increased price of petroleum prices by Rs5.40 per litre. The Oil and Gas Regulatory Authority had recommended to jack up petrol price by Rs11.5 per litre for the next fortnight which fuelled buying in oil sector stocks.