PSX gains momentum, posts recovery
The Pakistan Stock Exchange (PSX) bounced back strongly on Friday, gaining over 1,100 points a day after a bearish session fueled by panic selling. By the Friday prayers break, the PSX’s benchmark KSE-100 Index had risen 1,139.73 points to 150,374.99, marking a 0.76 percent increase.
A total of 486 companies traded during the session, with 301 recording gains, 137 posting losses, and 14 remaining unchanged.
The recovery was driven by buying interest across key sectors, although experts cautioned that volatility could continue due to potential profit-taking on the last trading day of the week.
On Thursday, the KSE-100 Index had fallen 1,355.74 points, or 0.90 percent, closing at 149,235.26, amid trading in 480 companies where 130 gained, 323 declined, and 27 remained unchanged.
The three top trading companies were Fauji Foods Limited with 62,087,443 shares at Rs 16.94 per share, Pak Elektron with 57,228,568 shares at Rs45.36 per share and Telecard Limited with 56,939,244 shares at Rs 8.34 per share.
Service Industries Limited witnessed a maximum increase of Rs 54.75 per share price, closing at Rs 1,300.55, whereas the runner-up was Indus Motor Company Limited with Rs52.76 rise in its per share price to Rs2,292.62.
Unilever Pakistan Foods Limited witnessed a maximum decrease of Rs883.72 per share closing at Rs 31,511.11 followed by The PIA Holding Company LimitedB with Rs377.90 decline in its share price to close at Rs27,501.00.
