PSX ends week with a 170-point gain

• Today, the benchmark KSE-100 index rise by 0.39% to close at 43,900.68 points.
• Shares of 327 companies were traded during the session.
• Overall trading volumes drop to 312.07 million shares.

KARACHI: The Pakistan Stock Exchange (PSX) ended the week on a positive note on Friday, with the benchmark KSE-100 index gaining nearly 170 points.

The index oscillated between red and green zones as certain sectors experienced selling pressure. Investors were concerned over the subdued economic growth and continuous depreciation of the Pakistani rupee, which prevented the market from advancing further. 

The investors are also keeping a close eye on the mini-budget announcement due next week which will give the market a new direction.

Earlier, trading began on a negative note, however, the bourse failed to sustain the momentum and the first session remained largely range-bound. The index still managed to end the session with gains.

Today, the benchmark KSE-100 index rose by 169.48 points, or 0.39%, to close at 43,900.68 points. 

A report from Topline Securities in its post-market commentary noted that the benchmark KSE-100 index traded within a range during the day as the index traded between its intraday high and low of 273 and 175 points.

“Major contribution to the index came from HBL, Systems Limited, Lucky Cement, BAHL and Pakistan Petroleum, as they cumulatively contributed 137 points to the index,” it said.

Shares of 327 companies were traded during the session. At the close of trading, 180 scrips closed in the green, 132 in the red, and 15 remained unchanged.

WorldCall Telecom was the volume leader with 29.2 million shares traded, losing Rs0.06 to close at Rs2.15. It was followed by Hum Network Limited with 25.96 million shares traded, gaining Rs0.32 to close at Rs6.33, and Telecard Limited with 17.5 million shares traded, losing Rs0.10 to close at Rs15.65.