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Friday, April 19, 2024  
09 Shawwal 1445  

PSX maintains bullish trend as KSE-100 adds 901 points

The benchmark index settled at 62,815.82
Photo - AFP/File
Photo - AFP/File

The Pakistan Stock Exchange (PSX) maintained its bullish trend on Friday gaining another 901 points at the closing of the market.

The benchmark KSE-100 Index gained 901.48 points, or of 1.46% to settle at 62,815.82 points against 61,914.34 points the previous trading day.

A total of 377.97 million shares valuing Rs16.011 billion were traded during the day as compared to 324.83 million shares valuing Rs13.966 billion on the last day.

As many as 339 companies transacted their shares in the stock market; out of which 201 recorded gains and 118 sustained losses, while the share prices of 20 remained unchanged.

The three top trading companies were Kohinoor Spinning with 36.16 million shares at Rs4.59 per share, K-Electric Limited with 26.53 million shares at Rs4.39 per share, and Yousuf Weawing with 16.72 million shares at Rs4.12 per share.

The local bourse recorded a positive momentum after PPP and PML-N struck a deal to form governments in the centre and the provinces.

Meanwhile, the market got another boost as the International Monetary Fund (IMF) said that it looked forward to working with the new government on policies to ensure macroeconomic stability and prosperity for all of Pakistan’s citizens.

Julie Kozack, the head of the Communications Department at the IMF, said that during the tenure of the interim government, the authorities had “maintained economic stability”.

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