Pakistan Stock Exchange (PSX) remained bullish for the second straight day on Friday, with the benchmark KSE-100 Index gaining 117.11 points (+0.25 percent) to close at 46,601.54 points.
The benchmark index surged from 44,444.58 to 46,601.54 points during the week, witnessing a gain of 2,156.96 points (4.85 percent), which has been the highest weekly gain since 2020. The market has gained over 3,000 points in the last six sessions. The market opened on a positive note and remained positive throughout the session. The bullish momentum continued on the back of the upcoming corporate result season, which is expected to be healthy. Speculations over the possible revival of the International Monetary Fund (IMF) programme also boosted the investors’ confidence. The investors cherished the six-day winning streak of rupee and $2.8 billion of inflows in terms of remittances during March 2022. The rupee has recovered Rs6.60 (+3.51 percent) against the dollar during the last six sessions.
The KSE-100 Index moved in a range of 301.16 points, showing an intraday high of 46,785.59 and a low of 46,484.43 points. Among other indices, the KSE All Share Index gained 102.19 points (+0.32 percent) to close at 31,575.76 points, while KMI All Share Islamic Index gained 107.2 points (+0.47 percent) to close at 22,933.09 points. -TLTP
