KARACHI: The Pakistan Stock Exchange (PSX) extended its gains on Thursday, moving higher as a result of overall optimism following encouraging corporate earnings.
Investors were pleased with the company’s quarterly financial results and the increase in IT exports.
However, political uncertainty and a weakening currency prevented investors from taking on new positions.
KSE-100 scores
The benchmark KSE-100 index ended the day at 40,276.64 points, up 304 points or 0.76 percent.
According to Arif Habib Limited, the PSX had a positive session today.
The benchmark KSE-100 index traded in the green all day as investors sought out bargains across the board.
“A rally was observed in the IT sector, with IT exports surging to $ 2.616 billion (the fiscal year 2021-22),” the brokerage house stated, adding that investor participation remained healthy, with heavy volumes seen in main board and third-tier stocks.
Banks (+154.1 points), technology (+93.3 points), exploration and production (+64.9 points), power (+24.7 points), and oil marketing companies (+18.5 points) all contributed to the performance.
During the session, 344 companies’ shares were traded. At the end of trading, 215 scrips were in the green, 104 were in the red, and 25 were unchanged.
Overall trading volume fell to 251.27 million shares, down from 121.57 million on Wednesday. The total value of shares traded that day was Rs9.34 billion.
WorldCall Telecom had the most shares traded, with 32.61 million shares changing hands, losing Rs0.03 to close at Rs1.15. TPL Properties came in second with 20.37 million shares traded, gaining Rs0.69 to close at Rs17.96, and Lotte Chemical Pakistan came in third with 16.95 million shares traded, gaining Rs1.73 to close at Rs30.23.
