KARACHI (Web Desk)-The Pakistan Stock Exchange (PSX) maintained an upward trajectory on Friday, fuelled by positive developments on the political and financial landscape.
Investor sentiment was boosted following the approval of the 27th constitutional amendment by the National Assembly, along with the anticipated approval of a $1.2 billion loan tranche by the International Monetary Fund (IMF) in its upcoming meeting next month.
Until Friday prayers break, the KSE-100 index surged by 1,011.93 points, reaching 161,669.42 points.
Out of 459 companies active in the session, 285 were higher, 133 declined, and 9 remained unchanged.
Market experts noted that the passage of the constitutional amendment has alleviated political uncertainty, contributing to optimism in the market.
Additionally, the growing likelihood of the IMF releasing the loan tranche next month further supported the positive market sentiment.
Earlier on Thursday, the benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) witnessed a strong bullish trend, gaining 2,473.55 points, a positive change of 1.56 percent, closing at 160,657.50 points.
A total of 797.17 million shares valuing Rs35.12 billion were traded in the ready market compared to 757.24 million shares worth Rs33.41 billion a day earlier. The market capitalization increased to Rs18.29 trillion from Rs18.07 trillion previously.
The three top-trading companies were Bank Makramah with 112.16 million shares at Rs5.59, followed by Dost Steels Ltd. with 48.73 million shares at Rs8.17, and F. Nat. Equities with 40.35 million shares at Rs19.63 per share.
The top gainers were Unilever Pakistan Foods Limited, which increased by Rs546.00 to close at Rs28,999.00, and ZIL Limited, rising by Rs53.24 to close at Rs585.64.
On the other hand, the major losers were PIA Holding Company LimitedB, which declined by Rs80.91 to settle at Rs24,452.05, and Gillette Pakistan Limited, decreasing by Rs50.04 to close at Rs450.39.
Out of 324 future market companies, 263 closed higher, 56 declined, and 5 remained unchanged.
