Carrying on with its momentum from the previous session, the Pakistan Stock Exchange (PSX) ended the week on a positive note, as the benchmark KSE-100 ended 0.50% higher on Friday.
The KSE-100 opened on a negative note, but quickly returned to positive and remained in the green zone for the rest of the session, backed by encouraging participation that pushed the benchmark index to an intra-day high of 45,396.14, up 467.31 points.
At close on Friday, the KSE-100 ended with a gain of 223.28 points, or 0.50%, to finish at 45,152.11.
“Pakistan stocks rejoiced on a declining trend in oil prices, clarity on political front and optimism for a favourable conclusion in diplomatic talks on Russia-Ukraine conflict,” said Al Habib Capital Markets Private Limited in a note.
On the economic front, inflation continued to be in the double-digits as the Consumer Price Index (CPI)-based reading hit 12.7% on a year-on-year basis in March 2022, compared to 12.2% in the previous month and 9.1% in March 2021, showed data released by the Pakistan Bureau of Statistics (PBS) on Friday.
Meanwhile, the Sensitive Price Index (SPI) for the week ended on March 31, 2022 recorded an increase of 0.53%. On a YoY basis, an increase of 16.79% was reported.
KSE-100 ignores political noise, ends 591 points higher
Sectors driving the benchmark KSE 100 index upward included banking (141.51 points), technology and communication (38.02 points), and automobile assembling (29.90 points).
Volume on the all-share index decreased to 389.11 million from 415.63 million on Thursday. The value of shares traded improved to Rs11.11 billion from Rs9.68 billion recorded in the previous session.
Telecard Limited was the volume leader with 35.43 million shares, followed by TPL Properties with 26.36 million shares, and Treet Corporation with 24.86 million shares.
Shares of 364 companies were traded on Friday, of which 183 registered an increase, 149 recorded a fall, and 32 remained unchanged.
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