ISLAMABAD: The buying momentum returned at the Pakistan Stock Exchange (PSX) on Friday as the benchmark KSE-100 Index gained 470.77 points after witnessing strong selling pressure on the last trading day.
Today, a total of 436,087,542 shares were traded as compared to 506,702,532 shares on the previous trading day, whereas the price of shares stood at Rs 24.021 billion against Rs 24.488 billion on the last working day.
As many as 441 companies transacted their shares in the stock market, 226 of them recorded gains and 202 sustained losses, whereas the share price of 13 companies remained unchanged.
Experts say investors are returning to the stock market, raising optimism for continued growth. The business community has embraced this upward trend, expressing confidence that, if sustained, it could lead to new market highs.
The mounting tensions between Pakistan and India rattled investors’ confidence as the Pakistan Stock Exchange (PSX) experienced strong selling pressure on Thursday, with the benchmark KSE-100 Index losing 2,206.33 points.
Asian stock markets were on track for a second consecutive week of gains on Friday, while the US dollar appeared poised for its first weekly increase in over a month. This momentum comes as investors reacted positively to what seems to be a more conciliatory tone from the White House toward China, despite the absence of any formal thaw in relations.
Meanwhile, Alphabet, the parent company of Google, exceeded profit expectations and reaffirmed its commitment to AI investments, sending its stock up nearly 5% in after-hours trading. This surge also boosted shares of other tech companies and lifted S&P 500 futures by 0.5%.
Earlier on Wall Street, investors looked past a mixed set of corporate earnings, helping the S&P 500 climb 2% by the close.
