Share prices rise at Pakistan Stock Exchange
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After a shaky start on Friday, share prices stabilized later in the first session at Pakistan Stock Exchange (PSX) on Friday, reported 24NewsHD TV channel.
The PSX’s benchmark KSE-100 Index gained more than 1,000 points as rollover of loan by the UAE and current account surplus put a positive impact on the market.
At mid-day Juma prayers break, the Pakistan Stock Exchange gained 1,020.04 points or 0.89% to reach 114,856.78 points.
In an interview with the South China Morning Post, Federal Finance Minister Aurangzeb highlighted the importance of Chinese investment in ensuring Pakistan’s economic stability. He said Pakistan plans to launch Panda bonds by June 2025.
On Thursday, the KSE-100 index decreased by 658.96 points or 0.58 percent to 113,836.74 points.
Economic analysts said Thursday’s trading session led to a decline in the market. “The decline was primarily driven by a lack of positive triggers, along with uncertainty surrounding the new US government strategy and its impact,” they added.
Major contributors to the negative movement included FFC, PPL, PSO, MARI, and MTL, which together accounted for a loss of 392 points.
The highest increase was recorded in Unilever Pakistan Foods Limited, which rose by Rs135 to Rs21,600 per share, followed by Supernet Technologies Limited, which increased by Rs37 to Rs996.26 per share. A significant decline was noted in Hoechst Pakistan Limited, which fell by Rs116.75 to Rs2,733.38 per share; Bata Pakistan Limited followed it, which closed lower by Rs37.82 to Rs1,931.61 per share.
WorldCall Telecom remained the volume leader with 103.704 million shares, which closed higher by 6 paisas to Rs1.86 per share. Cnergyico PK, with 37.108 million shares, followed it, which closed lower by 18 paisas to Rs6.88 per share.
Reporte: Ayaz Rana