[vc_row][vc_column][vc_column_text dp_text_size=”size-4″]
The Pakistan Stock Exchange (PSX) concluded the week on a positive note, with the benchmark KSE-100 index maintaining the 49,000 level. During Friday’s session, the index gained over 700 points.
Starting the day at 48,771 points, the KSE-100 index rose by 721 points, reaching 49,493 points, reflecting a 1.48 percent increase. This achievement was supported by the bullish sentiment carried over from Thursday, which had seen the index reach its highest level since June 9, 2017.
Read more : PSX Reaches Historic Low With Massive Drop In Points
The KMI 30 index also experienced a surge, gaining 1,355 points and closing at 83,956. Similarly, the KSE All-Share index increased by 506 points, settling at 33,049.
The overall positive trend observed in these sessions suggests a continuation of the current upward movement. Analysts are closely monitoring the 49,000-50,500 level, and a breach above 49,700 would indicate further bullishness toward 49,900, 50,000, and potentially 50,500.
Given the current momentum, it’s advisable to exercise caution due to the market’s overbought condition, which could lead to heightened volatility.
Sectors contributing to the KSE 100’s positive performance included Banking, Oil & Gas Marketing Companies, and Technology and Communication. Notable positive contributors at the company level were Meezan Bank Limited, K-Electric Limited, Pakistan Telecommunication Company Limited, and Worldcall Telecom Limited.
The Commercial Banks sector experienced a 3.41 percent increase in its cumulative market capitalization, with Meezan Bank Limited (MEBL) gaining 2.7 percent, United Bank Limited (UBL) rising by 1.45 percent, MCB Bank Limited (MCB) increasing by 1.37 percent, and Habib Bank Limited (HBL) closing 1.94 percent higher.
On a global scale, equity markets exhibited mixed trends, while crude oil prices saw an uptrend, with WTI crude oil prices rising by 4.14 percent to $86.34 per barrel, and Brent crude surging by 3.99 percent to $89.43.
[/vc_column_text][/vc_column][/vc_row]
