PSX continues with bullish trend as KSE-100 gains 1,049 points

KARACHI: The Pakistan Stock Exchange (PSX) continued with a bullish trend on Friday, as the KSE-100 index gained 1049 more points, ARY News reported.

The PSX closed on a positive note as the benchmark KSE-100 index gained 1,049.33 points, a positive change of 0.93 per cent, closing at 114,255.73 points as compared to 113,206.40 points on the last trading day.

A total of 543 million shares were traded during the day as compared to 483 million shares the previous trading day, whereas the price of shares stood at Rs27.97 billion against Rs26.10 billion on the last trading day.

As many as 454 companies transacted their shares in the stock market, 234 of them recorded gains and 164 sustained losses, whereas the share price of 56 companies remained unchanged.

The three top trading companies were Cnergyico PK with 66 million shares at Rs7.75 per share, WorldCall Telecom with 37 million shares at Rs1.64 per share and Bank Makramah with 18 million shares at Rs3.75 per share.

Ismail Industries Limited witnessed a maximum increase of Rs97.89 per share closing at Rs1,948 whereas runner-up was PIA Holding Company Limited with Rs89.07 rise in its share price to close at Rs979.73.

Unilever Pakistan Foods Limited witnessed a maximum decrease of Rs81.50 per share price, closing at Rs22305.50, whereas the runner-up was Mehmood Textile Mills Limited with Rs28.14 decline in its per share price to Rs644.24.

Meanwhile, Pakistan’s weekly inflation droped by 0.36pc, the Pakistan Bureau of Statistics (PBS) reported.

The weekly inflation, measured by the Sensitive Price Indicator (SPI), went down by 0.36 percent for the combined consumption groups during the week ended on January 30 and decelerated to 0.44 percent on a year-on-year (YoY) basis.

According to the PBS data, the SPI for the week under review in the above-mentioned group was recorded at 319.06 points as compared to 320.21 points during the past week.

As compared to the corresponding week of last year, the SPI for the combined consumption group in the week under review witnessed an increase of 0.44 per cent.

The weekly SPI with the base year 2015-16 =100 covers 17 urban centres and 51 essential items for all expenditure groups.

The SPI for the lowest consumption group of up to Rs 17,732 witnessed decrease of 0.52 per cent and went down to 309.85 points from last week’s 311.47 points.