The Pakistan Stock Exchange has ended the week on a positive note, with the benchmark KSE-100 index gaining 324.90 points, or 0.63 per cent, by the close of the trading session to reach 51,750.91.
Volumes were led by commercial banking stocks as the benchmark index continued its bullish trend with the market optimistic about the MSCI rating reclassification expected on May 15.
“Stocks closed higher led by blue chip oil, banking and fertilizers stocks as investors speculated in the pre-budget rally at PSX,” said Arif Habib Corp’s Ahsan Mehanti.
“Higher global crude prices, upbeat data on car sales in Jul-Apr 2017, and speculations ahead of MSCI EM inclusions of fertilizers, banking and oil stocks played a catalyst role in record close,” he added.
127 million shares of indexed companies changed hands by the end of the session, with a total worth of nearly Rs13.16 billion.
Stocks of 382 companies were traded, of which 194 gained in value, 165 declined and 23 remained unchanged. Volumes were led by: Summit Bank: 34.5m shares traded [+12.3pc]; K-Electric Ltd: 22.25m shares traded [+3.34pc]; Byco Petroleum: 19.36m shares traded [-4.96pc]; Dewan Cement: 18.65m shares traded [-4.96pc]; and, Bank of PunjabXR: 18.38shares traded [+4.16pc].