Today, investors witnessed a welcome situation in the Pakistan Stock Market at the end of the business week, where the KMI-30 Index made a strong comeback and closed in the positive zone.
At the end of the market, the index closed at 244,986 points with an increase of 2,692 points, which shows a 1.11 percent increase.
The market appeared to be under some pressure at the beginning of the day and the index opened at 240,495 points, however, buyers soon became active, which created a bullish trend in the market. During the trading session, the index reached a high of 246,421 points, while the low was recorded at 238,521 points.
According to experts, this improvement in the market was seen due to the strong performance of the banking, oil and gas and technology sectors. In particular, MEBL, OGDC and PPL played a major role in driving the market up.Trading volume was also good and 146.15 million shares were traded, indicating investor confidence.
Since the beginning of the financial year (FYTD) the index has increased by 32.51%, while in terms of calendar year (CYTD) there is still a decrease of 1.43%.
Analysts say that expectations of stability at the global level and improvement in local economic indicators have motivated investors. If this trend continues, the market may go up further in the coming days.