Significant increase in KSE-100 and KMI-30 indices; market closed in positive zone

Investor confidence gave a positive direction to the market on the last day of the trading week at the Pakistan Stock Exchange (PSX) on Friday, as a result of which both the major indices KSE-100 and KMI-30 closed with a significant increase. The buying trend in the banking, cement, energy and oil and gas sectors supported the overall performance of the market, while investor interest remained more prominent in large shares.

According to official market data, the KSE-100 index closed at 182,241.78 points, up 982.10 points, or 0.54 percent. The index also touched a high of 183,477.57 points during the trading session, while the initial level was 181,880.55 points. About 412.98 million shares of companies included in the index were traded, indicating active investor interest in the market.

On the other hand, the KMI-30 index, which represents Islamic investment, also showed a strong performance and closed at 256,914.21 points, up 1,306.68 points, or 0.51 percent. The index recorded a high of 258,977.94 points and a low of 256,670.76 points during the session. Around 109.86 million shares were traded in KMI-30 companies, reflecting the continued investment trend in the market.

Meezan Bank was the most prominent company in today’s trading activity, providing the most positive support to both indices. In addition, buying in shares of United Bank, Habib Bank, MCB Bank, Askari Bank, Lucky Cement, Pakistan State Oil, Ghani Industries and Mari Energies also kept the overall direction of the market strong. Investor interest in these companies further strengthened the positive trend.

On the contrary, selling pressure was also seen in shares of a few companies. Shares like SAZEW, SNGP, SRVI, HMB, MEHT, ATRL, SSGC and HCAR had a limited negative impact on the index; however, the decline in these companies could not change the positive trend of the overall market as buying by large investors proved to be more effective.

According to market experts, the positive developments in the recent session indicate that investors are still expressing confidence in strong fundamental companies. According to him, if economic indicators, interest rates, inflation rates and corporate financial results remain as expected, the market may continue to be positive in the coming sessions. However, he also emphasised that changes in global economic conditions, crude oil prices and local economic policies may affect the future market direction, so investors should make careful and research-based decisions on a long-term basis.