KARACHI: The Pakistan Stock Exchange (PSX) remained on an upward trajectory on Friday, fueled by positive developments in the political and financial landscape.
Investor sentiment was boosted following the approval of the 27th constitutional amendment by the National Assembly, along with the anticipated approval of a $1.2 billion loan tranche by the International Monetary Fund (IMF) in its upcoming meeting next month.
During the early trading session, the KSE-100 index surged by 761.17 points, reaching 161,418.66 points, compared to its previous closing of 160,657.49 points.
Market experts noted that the passage of the constitutional amendment has alleviated political uncertainty, contributing to the optimism in the market. Additionally, the growing likelihood of the IMF releasing the loan tranche next month further supported the positive market sentiment.
A day earlier, the benchmark KSE-100 index witnessed a strong bullish trend, gaining 2,473.55 points, a positive change of 1.56 percent, closing at 160,657.50 points compared to 158,183.95 points on the previous day.
A total of 797.17 million shares valuing Rs35.12 billion were traded in the ready market compared to 757.24 million shares worth Rs33.41 billion a day earlier. The market capitalization increased to Rs18.29 trillion from Rs18.07 trillion previously.
Out of 477 companies active in the session, 285 closed higher, 142 declined, and 50 remained unchanged.
