The Pakistan Stock Exchange (PSX) rebounded strongly on Friday, ending a string of declines as investor confidence received a boost following Pakistan and Afghanistan’s agreement to extend the ceasefire.
During intraday trading, the benchmark KSE-100 index surged 2,746.62 points, a 1.72% gain, closing at 159,479.49 points.
This came after a steep 1,732-point drop the previous day that had unsettled the market.
Friday’s recovery underscored the market’s resilience and suggested a more positive outlook, with investors closely watching economic indicators and corporate earnings.
Out of 439 companies trading, 360 posted gains, 64 saw losses, and 15 remained unchanged.
Analysts attributed the strong bounce to optimism surrounding the upcoming IMF Executive Board meeting, expected to review Pakistan’s Extended Fund Facility (EFF) programme, with hopes of smooth approval fueling market sentiment.
On Thursday, the KSE-100 had continued its bearish streak, losing 1,732.19 points (1.09%) to close at 156,732.87 points.
A total of 848.3 million shares were traded, down from 951.8 million the day before, while the total value of shares transacted fell to Rs37.61 billion from Rs41.31 billion.
Among 475 companies active in Thursday’s session, 148 gained, 293 declined, and 34 remained unchanged.
The Bank of Punjab led the volume chart with 84.182 million shares, followed by WorldCall Telecom with 50.188 million, and K-Electric Ltd. with 47.800 million shares.
In the gainers’ column, Supernet Technologies Limited increased by Rs118.17 per share to close at Rs1,602.56, followed by S.S. Oil Mills Limited, which gained Rs42.13 to close at Rs463.41.
Among the top losers, PIA Holding Company LimitedB witnessed a decrease of Rs333.33, closing at Rs23,966.67, while Unilever Pakistan Foods Limited declined by Rs297.14, ending at Rs28,633.75.
