The Pakistan Stock Exchange witnessed a positive trend for investors at the end of the trading week today, with the KSE-100 index closing with a strong increase. The index closed at 170,672 points, up 1,498 points, or 0.89 percent.
The market opened at 168,045 points at the beginning of the day, and after minor fluctuations in the early session, investors saw an increase in buying. During this time, the index reached a high of 171,641 points while the low was recorded at 166,380 points.
The main reason for today’s bullishness in the market was the strong performance of the banking and energy sectors. In particular, large stocks like MEBL, UBL and OGDC played a major role in pushing the index up.
Trading volume was also significantly better, with 445.22 million shares traded, indicating growing confidence in the market.
The index has gained 35.86 percent since the beginning of the financial year, while it has declined 1.94 percent year-on-year.
According to analysts, this improvement in the market has come due to expectations of economic stability, stability in the value of the rupee and improved conditions at the global level.
They say that if this trend continues, further acceleration can be seen in the coming weeks.
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