Optimistic sentiment prevailed at the Pakistan Stock Exchange (PSX) for the fourth successive session, as the benchmark KSE-100 index rose 0.35% while volume and value of shares traded improved on Thursday.
Indices accumulated gains for most of the day, while healthy volumes were recorded across the board.
By the end of the session, the KSE-100 Index closed with an increase of 146.12 points or 0.35% to close at 42,090.71 points.
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“The day kicked off on a positive note as investors cheered the trade deficit numbers, which were down by 26.59% during the first four months of the current fiscal year, compared to the same period last year,” said Topline Securities in a post-market note.
Index-heavy automobiles, cement and technology & communication closed with gains. On the other hand, banks closed with losses.
Arif Habib Limited (AHL) report stated that another positive session was witnessed at the PSX.
“Despite opening in the red territory, the market bounced back and made an intraday high of 288.87 points as investors opted for value hunting in the main board,” said the brokerage house.
On the economic front, rupee registered a depreciation of Re0.52 or 0.23% in the inter-bank on Thursday and closed at 221.95.
Sectors driving the benchmark KSE-100 index upwards included technology & communication (67.70 points), oil & gas exploration (26.39 points) and banking (17.71 points).
Volume on the all-share index jumped to 325.7 million from 230.6 million on Wednesday. Similarly, the value of shares traded increased to Rs7.2 billion from Rs6.2 billion recorded in the previous session.
Hascol Petroleum Limited was the volume leader with 78.5 million shares, followed by WorldCall Telecom with 33.1 million shares and Ghani Global Holdings Limited with 17.5 million shares
Shares of 350 companies were traded on Thursday, of which 216 registered an increase, 109 recorded a fall, and 25 remained unchanged.
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