BAFL 38.45 Decreased By ▼ -0.16 (-0.41%)
BIPL 17.25 Increased By ▲ 0.46 (2.74%)
BOP 4.07 Increased By ▲ 0.12 (3.04%)
CNERGY 3.08 Decreased By ▼ -0.03 (-0.96%)
DFML 16.55 Increased By ▲ 0.30 (1.85%)
DGKC 43.80 Increased By ▲ 0.05 (0.11%)
FABL 22.30 Increased By ▲ 0.15 (0.68%)
FCCL 11.31 Increased By ▲ 0.36 (3.29%)
FFL 6.37 Increased By ▲ 0.07 (1.11%)
GGL 9.49 Decreased By ▼ -0.09 (-0.94%)
HBL 90.50 Decreased By ▼ -2.00 (-2.16%)
HUBC 87.70 No Change ▼ 0.00 (0%)
HUMNL 5.49 Decreased By ▼ -0.01 (-0.18%)
KEL 2.01 Increased By ▲ 0.06 (3.08%)
LOTCHEM 28.50 Increased By ▲ 0.24 (0.85%)
MLCF 30.20 Increased By ▲ 0.74 (2.51%)
OGDC 98.20 Increased By ▲ 2.13 (2.22%)
PAEL 9.99 Decreased By ▼ -0.06 (-0.6%)
PIBTL 3.89 Decreased By ▼ -0.01 (-0.26%)
PIOC 85.25 Increased By ▲ 0.50 (0.59%)
PPL 74.60 Increased By ▲ 1.70 (2.33%)
PRL 15.32 Decreased By ▼ -0.08 (-0.52%)
SILK 0.97 Increased By ▲ 0.03 (3.19%)
SNGP 46.80 Increased By ▲ 0.37 (0.8%)
SSGC 9.36 Increased By ▲ 0.23 (2.52%)
TELE 6.96 Increased By ▲ 0.04 (0.58%)
TPLP 12.33 Increased By ▲ 0.01 (0.08%)
TRG 90.15 Increased By ▲ 1.11 (1.25%)
UNITY 25.39 Decreased By ▼ -0.10 (-0.39%)
WTL 1.14 Decreased By ▼ -0.02 (-1.72%)
BR100 4,656 Increased By 12.1 (0.26%)
BR30 16,663 Increased By 117.9 (0.71%)
KSE100 46,365 Increased By 87.4 (0.19%)
KSE30 16,172 Increased By 20.7 (0.13%)

Ahead of the budget 2023-24 announcement, the Pakistan Stock Exchange (PSX) turned optimistic and the KSE-100 Index climbed 0.52%.

After the closing hours of the market, the government of Pakistan announced budget for fiscal year 2023-24.

At close, the KSE-100 Index was at 41,904.21, an increase of 217.75 points or 0.52%.

KSE-100 plunges over 450 points amid uncertainty on upcoming budget

The index ticked up as soon as trading began but it closed first session flat owing to uncertainty. The second session began with a buying spree and the index closed with a gain.

Despite the positivity, index heavy automobile, chemical, banking, fertiliser and oil sectors closed mixed.

A report from Capital Stake cited that the PSX changed its course, ending last session of the week on a positive note.

“Indices traded in green for most part of the day while volumes dropped from last close,” it said. “Investors kept their hopes up with regards to the budget.”

A report from Arif Habib Limited stated that the week concluded with a positive session at the PSX.

The market opened in the green and maintained the sentiment throughout both sessions.

“In expectations of favourable outcomes from the upcoming budget, investors chose to add value to their portfolios by cherry picking stocks,” it said. “Investors remained active throughout the day as the bourse finished in the green.”

The report underlined that substantial volumes were observed across the board, with third-tier equities being in the spotlight.

Sectors driving the benchmark KSE-100 index north included technology and communication limited (74.38 points), chemical (53.53 points) and textile composite (29.69 points).

Volume on the all-share index decreased to 164.8 million from 203.8 million on Thursday, while the value of shares traded declined to Rs5.2 billion from Rs5.8 billion recorded in the previous session.

TPL Properties was the volume leader with 19.5 million shares followed by Unity Foods with 14 million shares and WorldCall Telecom with 13.4 million shares.

Shares of 340 companies were traded on Friday, of which 187 registered an increase, 126 recorded a fall and 27 remained unchanged.

Comments

1000 characters

KSE-100 rises 0.52% ahead of budget announcement

Pakistan receives first shipment of Russian LPG, Russian embassy says

Open-market: rupee appreciates further against US dollar

Pakistan seeks Chinese assistance in EV technology

Pakistan seeks two LNG cargoes for winter

Pink eye outbreak: schools in Punjab to remain closed for 4 days

At least 8 dead, 5 injured in rocket launcher shell explosion in Sindh’s Kandhkot

Indus Motor Company announces another plant shutdown

Oil prices climb as markets focus on supply tightness

EPCL extends gas supply deal with SSGC till October 15

After IB, Pemra also withdraws review petition against Faizabad sit-in case verdict