PSX concludes week on positive note

Staff Reporter

Karachi

The Pakistan Stock Exchange (PSX) closed the week on a positive note with the benchmark KSE-100 index gaining 565 points to close at 41,064 on Friday.
The index showed a narrow range of activity during the first half of the session. However, the market gained momentum in the second half and hit a day’s high of 41,115 points.
It had hit a day’s low of 40,453 points, down 46 points after the session’s commencement.
Topline Securities, in an analysis note, said that the market regained momentum from the onset of the second-half of the session where the oil sector led initial gains. Subsequently, all key sectors, including financial and cement traded and closed higher on reported local and the international high-net-worth buying.
A total of 115.5 million shares worth Rs6.8 billion were traded on the broader market. Of the 353 traded scrips, 245 gained in value, 89 declined and 19 remained unchanged.
The communication sector dominated trading with 25.6m shares traded; the engineering sector followed with 11.6m shares traded.
Volumes were led by: WorldCall Telecom: 14.5m shares traded [+2.06pc]; mPak Elektron: 10.1m shares traded [+4.99pc]; TRG Pak Ltd: 7.3m shares traded [+4.39pc]; Azgard Nine: 4.6m shares traded [+3.10pc] and Inter.Steel Ltd: 4.6m shares traded [+4.93pc].

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