The Pakistan Stock Exchange (PSX) ended on a positive note on Friday as investors looked for value, goo helping some stocks make a comeback. The main KSE-100 Index went up 575 points. Finished close to 177,170.
The PSX had a good day today with the KSE-100 Index adding 575 points, which is a 0.33% increase compared to the previous day, and closed at 177,167.
During the day, the power sector was the driver of the recovery. HUBC attracted investors after it dropped 14% from its recent high of Rs227.9, which was on August 10. Ali Najib, Deputy Head of Trading at Arif Habib Ltd, said that at around Rs200 the stock provided an expected dividend yield of 10%. Also, the company’s varied portfolio in growth areas made investors more interested.
At the time, news about a refinery deal that is expected to be signed in the next 10 days kept the refinery sector in positive territory. PRL and CNERGY reached their price limits, which is a 10% increase.
On the front, ENGROH said that they made Rs7.45 per share in the second quarter of this year, which is 70 percent less than what they made last year and 7 percent less than what they made in the first quarter.
Some companies like OGDC, HUBC, ATRL, SRVI, PPL, MARI, CNERGY, LUCK, FATIMA, and PSO did well. Added 672 points to the main stock index.
Not many people were buying and selling stocks, so the market was pretty quiet. People traded 677 million shares, and the total value of these shares was Rs35.5 billion. CNERGY was the traded stock with 250 million shares changing hands.
The KSE-100 Index did not do well. Ended the week down by 2,938 points, which is a decrease of 1.63 percent from last week. It closed at 177,167. During the week, the index went up to 181,159 at one point and down to 176,111 at another point. People were selling their stocks to make a profit. They were also worried about what was happening in the world, which made them less confident.
In the future, the stock market will probably be very unpredictable. People will sell their stocks to make a profit. What happens in the world and the price of oil will be very important in deciding what happens to the stock market. The ENGROH stock and other stocks, like OGDC, HUBC, ATRL, SRVI, PPL, MARI, CNERGY, LUCK, FATIMA, and PSO, will be affected by these things.
