The Pakistan Stock Exchange continued to trade on the last trading day of the week despite the volatility, and the benchmark KSE-100 index closed at 177,166.52 points, up 574.76 points.
The trading day also started on a positive note and the index rose more than 800 points to 177,528 points in the opening session. However, selling pressure came later in the market, and the initial rally largely waned.
Investors remained cautious due to news related to political developments during the day. At one stage, the KSE-100 index fell more than 400 points compared to the previous closing level, however, buying resumed in the second part of the business, and the market ended on a positive note.
The index closed at 176,591.77 points on Thursday after falling by 254.59 points. Friday’s rally recovered a large part of the previous session’s decline.
According to Pakistan Stock Exchange data, about 689 million shares were traded during the trading day, with a total value of Rs 35.66 billion. More than 374,000 trades were recorded in the market.
The overall performance of the shares was mixed. The share prices of 246 companies increased while the shares of 216 companies decreased. The share prices of another 103 companies remained at the previous level.
The overall investment value of the market also increased and the market capitalization increased by about Rs 95 billion to Rs 19,882 billion at the end of the business.
Interest was also seen in the shares of refinery companies in the Friday session. Information regarding the progress of the government on the refinery upgrade projects supported the shares of the relevant sector, however, the overall direction of the market was also affected by various economic and political factors.
Political developments in the Pakistani stock market have been affecting the short-term trading trend. Recent medical and political developments related to the PTI founder also caught the attention of investors, but it would not be appropriate to link the entire market movement to any single news.
Investors will now keep an eye on the global financial situation, crude oil prices, interest rates, rupee value, domestic political conditions and financial results of companies. These factors can play an important role in determining the direction of the market in the coming sessions.
The overall trend of Friday’s trading was positive, however, significant volatility during the day indicates that investors are cautious about news in the current situation. A close above the 177,000 level is definitely a positive development for the market, but the performance of the coming trading sessions will be important to confirm the continued bullish trend.
