LAHORE (Dunya News) – Bullish trend gripped the Pakistan Stock Exchange (PSX) on the last working day of the week on Friday as positive indicators keep investors trading in high stake shares.
The KSE-100 index gained 712.53 points, or 0.98 percent, to go up to 73,370.58 points in the morning from the previous close of 72,658.05.
At 3 pm, the index was 73,297.30 showing a change of 639.25 points, or a change of 0.88 percent.
The day started on an upbeat note as the KSE-100 index recorded an increase of 218 points to go up to 72,876 points.
Later, the PSX saw another hike and the KSE-100 index gained 96 points to soar to 314 points reaching near 73,000 points mark – 72,927 points.
On Thursday, the stock market had snapped a three-day losing streak as selective value-hunting helped the KSE 100-share index close the session in the green territory.
Ahsan Mehanti of Arif Habib Corporation attributed the mild recovery to the World Bank’s reaffirmation of collaborating with Pakistan in structural reforms and sustainable development.
The reasons for KSE-100 upsurge included privatisation of ailing state-owned enterprises, speculations ahead of new loan talks with the IMF, and the likely visit of the Saudi crown prince to seal investment deals under the Special Invest¬ment Facilitation Council.