Aided by robust financial results, KSE-100 rises 0.89%

The Pakistan Stock Exchange (PSX) saw an optimistic session Thursday and the KSE-100 Index rose 0.89% owing to partial political clarity.

Robust financial results revived investor interest and they made fresh buying.

By the end of the session, the KSE-100 Index rose 364.33 points or 0.89% to close at 41,463.91 points.

KSE-100 fails to sustain gain, ends post-Eid session flat

Trading began upward and the market rose throughout the session. Buying activity intensified in final minutes and elevated the gains.

Automobile, cement, chemical and banking sectors closed in green while oil segment ended the day on mixed note.

A report from Capital Stake stated that bulls of PSX came back roaring on Thursday.

“After a small dip when the opening bell rang, indices accumulated gains day long. Volumes dropped from last close,” it said. “As per analysts, ongoing result reason helped regain investors’ interest in the market.”

A report from Arif Habib Limited stated that a bullish trend at the PSX continued today.

“The benchmark KSE-100 index opened with positive momentum and continued to trade in green throughout the day, reaching an intraday high of 419.84 points, as investors’ participation remained active due to positive outcomes on the political front,” it said.

Volumes picked up as above-expected financial results were announced by the banking, technology, and cement sector, boosting investor confidence to accumulate strong fundamental stocks and leading the index to close in green, the report said.

Sectors painting the benchmark KSE-100 index in green included, investment banking sector (71.69 points), banking sector (58.46 points) and cement sector (47.24 points).

Volume on the all-share index fell to 169.1 million from 186.9 million on Wednesday while the value of shares traded increased to Rs6.25 billion from Rs5.78 billion recorded in the previous session.

Bank Al-Falah was the volume leader with 14.3 million shares followed by Maple Leaf Cement with 7.3 million shares and Pak Refinery with 6.9 million shares.

Shares of 342 companies were traded on Thursday, of which 175 registered an increase, 141 recorded a fall and 26 remained unchanged.