KARACHI: The Pakistan bourse closed in a green zone on Friday amid upbeat sentiments of investors on the back of political stability in the country and the recovering economic indicators.
The rupee gained stability against the dollar, coupled with the likely resumption of the International Monetary Fund (IMF) programme after economic measures were taken which is a positive sign for the investors, an analyst at Pearl Securities said.
“The oil prices continue a downward trajectory to hover around $100/barrel, auto sales rose 54 per cent in the first nine months of fiscal year 2022 giving a boost to the investors’ confidence,” he added.
“Going forward, we expect the market to perform well amid termination of local political chaos. Hence, we suggest our investors adopt the “Buy on Dip” strategy in the upcoming week,” he concluded.
The Pakistan Stock Exchange KSE-100 shares Index gained 0.25 per cent, or 117.11 points, to close at 46,601.54 points. The KSE-30 shares Index gained 0.04 per cent, or 6.61 points, to close at 17,906.20 points.
The ready market volumes stood at 365.78 million shares compared with the turnover of 494.94 million shares in the last trading session.
The companies which reflected the highest gains included Sapphire Tex up Rs17.71 to close at Rs1,073.67/share, and Sapphire Fiber up Rs65.78 to close at Rs959.78/share.
The companies that reflected the most losses included Blessed Tex down Rs15 to close at Rs500/share, and Otsuka Pak down Rs13.25 to close at Rs238.75/share.
The highest volumes were witnessed in Cnergyico PK with a turnover of 71.32 million shares. The scrip shed 3 paisas to close at Rs6.72/share, followed by WorldCall Telecom with a turnover of 31.65 million shares. It shed 1 paisa to close at Rs1.92/share. Ghani Global Holdings remained the third with a turnover of 24.97 million shares. It gained 38 paisas to finish at Rs21.79/share.