KARACHI: The Pakistan Stock Exchange (PSX) on Friday started with a slow start but eventually turned path and closed the session with decent gains.
The indices traded in green for the most part of the day. Foreign investors closed the last session as net sellers. A net outflow of US$ 0.985 million was recorded. Global equity markets also showed a positive trend.
The KSE 100 index closed on a positive note by gaining 231.03 points at 34,350.42. It touched its intraday high of 34,367.74 after gaining 248.35 points. The total volume of shares was recorded at 53.698 million recorded at Rs3.006 billion.
The lower bench KSE 30 index also witnessed a gain of 85.48 points and closed at 15,000.89 points. The total volume of scripts traded at the bourse was 29.121 million. The KMI 30 index increased by 528.82 points at 55,175.14, while the KSE All-Share index gathered 144.47 points and ended at 24,614.02 points.
Out of total scripts traded, 166 advanced and 97 declined. The overall volumes declined from 143.59 million shares to 89.07 million shares.
Maple Leaf Cement Factory (MLCF +2.53%), Jahanghir Siddiqui & Company (JSCL -0.62%) and TRG Pakistan (TRG +0.29%) witnessed highest volumes on Friday. The scripts had 6.64 million shares, 5.21 million shares and 4.35 million shares traded respectively.
The sectors driving the KSE 100 index upwards included cement sector (+54.36 points), Oil and Gas Exploration sector (+48.57 points) and fertilizer sector (+45.43 points).
Among companies, Engro Corporation (ENGRO +39.92 points), Pakistan Oilfields Limited (POL +20.62 points) and Lucky Cement (LUCK +16.30 points) were top points contributors.
The pharmaceutical sector gained 3.53 percent in cumulative market capitalization and ended as the highest gainer. GlaxoSmithKline (GLAXO +2.93%), Ferozsons Laboratories (FEROZ +7.50%), The Searle Company (SEARL +3.34%) and Abbot Laboratories (ABOT +4.61%) all closed in green.
The stock market had observed uncertainty during the ongoing week as investors remain concerned over the federal budget which will be released later this month. Investor’s confidence remained upbeat which ended the week at the stock market on a positive note.
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