KARACHI - Pakistan Stock Exchange witnessed another bullish session on Friday on strong earnings outlook.
The benchmark KSE 100-share index rose 295.16 points (0.92%) to close at 32,441.74 points. Following the news of investment in EFOODS by a Dutch company, EFOODS and ENGRO both closed at upper limits, dealers said.
Traded volume decreased 7% to 150m shares and traded value decreased 6.5% to Rs8.6b/$82.6m.
In anticipation of price revision, pharma sector gained with GLAXO, HINOON and FEROZ closing up 5%, 5% and 4.28% respectively. Oil prices continue to rise internationally which led gain in POL, PPL and OGDC by 1.52%, 1.01% and 2.31% respectively.
Higher crude prices and falling bond yields played a catalyst role in bullish close led by leveraged stocks at PSX, observed analyst at major brokerage.
Jah.Sidd.Co emerged as volume leader in market with traded shares of 18.4m, followed by TRG Pak with volume of 15m shares and NIB Bank with 6.8n shares.