PSX maintains bullish momentum as KSE-100 adds 842 points

KARACHI: The Pakistan Stock Exchange (PSX) continued with a bullish trend on Friday as the benchmark KSE-100 index gained 842.70 points at the closing of the market, ARY News reported.

KSE-100 gained 842.70 points, or 0.74 percent, closing at 114,880.49 at the closing of the stock market as against the previous day’s closing of 114,037.79 points.

Analysts at Topline Securities said that this gain can be attributed to a monetary policy meeting on Monday where the market expects a cut in policy rate in the range of 100 to 150bps.

A total of 632.03 million shares were exchanged during the day at the PSX, compared with the turnover of 675.54 million shares the previous trading day.

The price of shares stood at Rs37.80 billion against Rs30.46 billion on the last trading day at the Pakistan Stock Exchange.

As many as 445 companies transacted their shares in the stock market, 226 of them recorded gains and 167 sustained losses, while the share price of 52 companies remained unchanged.

The three top trading companies were Cnergyico PK with 61.45 million shares at Rs 7.71 per share, Sui South Gas with 57.67 million shares at Rs43.92 per share and WorldCall Telecom with 33.76 million shares at Rs1.79 per share.

Sapphire Textile Mills Limited witnessed a maximum increase of Rs72.18 per share closing at Rs 1,220 whereas the runner-up was Pakistan Services Limited with Rs24.71 rise in its share price to close at Rs928.98.

NRL-FEB witnessed a maximum decrease of Rs28.95 per share price, closing at Rs 266.04, followed by SAZEW-JANB with Rs17.18 decline in its per share price to Rs989.92.