KSE-100 closes week on constructive be aware

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Investors sitting at the Pakistan Stock Exchange— AFP/File
Traders sitting on the Pakistan Inventory Trade— AFP/File
  • At shut, benchmark KSE-100 index good points 234.77 factors to settle at 45,675.87.
  • The index oscillated between pink and inexperienced zones as sure sectors skilled promoting stress.
  • Shares of 333 corporations have been traded in the course of the session.

KARACHI: The Pakistan Inventory Trade (PSX) ended the week on a constructive be aware on Friday, with the benchmark KSE-100 index gaining over 200 factors.

The index oscillated between pink and inexperienced zones as sure sectors skilled promoting stress. Traders have been involved over the subdued financial development and company outcome bulletins, which prevented the market from advancing additional.

Earlier, buying and selling started on a constructive be aware, nonetheless, the bourse didn’t maintain the momentum and the primary session remained largely range-bound. The index nonetheless managed to finish the session with good points.

On the shut, the benchmark KSE-100 index gained 234.77 factors, or 0.52%, to settle at 45,675.87 factors.

Benchmark KSE-100 index intra-day trading curve. — PSX data portal
Benchmark KSE-100 index intra-day buying and selling curve. — PSX knowledge portal

Arif Habib Restricted in its post-market commentary famous that the market witnessed constructive momentum together with improved buying and selling volumes right now on account of a decline in crude oil costs.

“After the approval of two new payments by the Senate concerning the fuel sector — Oil and Gasoline Regulatory Authority (Modification) Invoice, 2022 and Weighted Common Price of Gasoline (WACOG) Invoice —Sui Northern Gasoline Pipelines, Sui Southern Gasoline Firm, Oil and Gasoline Growth Firm, Pakistan Petroleum and Pakistan State Oil closed within the inexperienced zone,” the brokerage home said.

In the meantime, within the banking sector, the Financial institution of Punjab remained within the limelight because it introduced monetary outcomes declaring 12.5% bonus shares and earnings per share beating market expectations.

Sectors contributing to the efficiency included banks (+47.four factors), fertiliser (+36.three factors), oil advertising and marketing corporations (+34.2 factors), exploration and manufacturing (+31.6 factors) and cement (+28.three factors).

Shares of 333 corporations have been traded in the course of the session. On the shut of buying and selling, 179 scrips closed within the inexperienced, 131 within the pink, and 23 remained unchanged.

Total buying and selling volumes rose to 152.9 million shares in contrast with Thursday’s tally of 152.86 million. The worth of shares traded in the course of the day was Rs4.31 billion.

Financial institution of Punjab was the quantity chief with 60.three million shares traded, shedding Rs0.10 to shut at Rs8.26. It was adopted by Soneri Financial institution with 16.35 million shares traded, gaining Rs0.02 to shut at Rs10.50, and Telecard with 11.1 million shares traded, shedding Rs0.10 to shut at Rs15.99.

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