KARACHI: The Pakistan stocks closed higher on Friday amid thin trade on strong data of large scale manufacturing (LSM) showing a growth of 10.4 per cent for July-March of fiscal year 2022 and reports of record federal budget outlay of Rs9.5 trillion, dealers said.
The Pakistan Stock Exchange KSE-100 shares Index gained 0.67 per cent, or 278.77 points, to close at 42,014.73 points. The KSE-30 shares Index gained 0.72 per cent, or 114.93 points, to close at 16,064.58 points.
An analyst at JS Global said that the market observed another range-bound session as investors waited for the budget announcement.
“Investor participation remained dull where only 116 million shares were traded throughout the day. Going forward, the market is expected to remain range-bound, hence we recommend investors to stay cautious and avail the current upside as selling opportunity,” he added.
As many as 315 scrips were active of which 185 advanced, 99 declined and 31 remained unchanged.
The ready market volumes stood at 115.87 million shares, compared with the turnover of 235.35 million shares in the last trading session.
The companies which reflected the highest gains included Colgate Palm up Rs50 to close at Rs2,250/share, Millat Tractors up Rs25.88 to close at Rs865.05/share.
The companies which reflected the most losses included Mehmood Textile down Rs69.66 to close at Rs863.34/share, and Pak Engineering down Rs23.52 to close at Rs290.23/share.
The highest volumes were witnessed in TPL Properties with a turnover of 12.01 million shares. The scrip shed 16 paisas to close at Rs19.38/share, followed by G3 Technologies with a turnover of 10.43 million shares. It gained 31 paisas to close at Rs9.43/share. Lotte Chemical remained the third with a turnover of 7.33 million shares. It gained Rs1.24 to finish at Rs24.30/share.