KSE-100 closes in the green at 184,174.48 points on Friday – Business

Pakistan’s benchmark index, KSE-100, rebounded slightly on Friday by 1836.36 points after shedding 6131.53 points on the previous day.

The benchmark index closed at 184,174.48 points, 1.01 per cent higher than its previous close of 182,338.12.

Trading was relatively volatile, with the benchmark hitting an intraday high of 186,619.51 points and a low of 182,347.47. Trading activity remained healthy, with volumes of 344.196 million shares and a total traded value of Rs37.47 billion, indicating active participation despite intraday swings.

K-Electric Limited was the top active stock with a volume of 81,415,506, followed by Hascol Petroleum Limited at 66,471,778, Worldcall Telecom Limited at 53,707,694, and Bank of Punjab at 28,310,030.

Chenab Limited (Pref) led the top advancers, gaining 18.34pc to Rs4.71, followed by Apna Microfinance Bank gaining 10.01pc to Rs17.92, Kohinoor Industries Limited gaining 10.01pc to Rs69.37, and First Tri-Star Modaraba gaining 10pc to Rs44.21.

According to Shoaib Memon, executive vice president of equities at AKD securities yesterday’s volatility in the market was on account of the central bank keeping the monetary policy rate unchanged, and “defying all expectations”. Memon noted that the State Bank’s decision caused a “short-term negative reaction for one day after which the market sentiment became positive,” which could be seen in the market’s uptick on Friday.

Despite geopolitical tensions leading to a spike in oil prices, Memon noted that “there is a lot of oil supply,” which will limit the impact of such geopolitical tensions, and an “overall positive sentiment will prevail, but people will wait and see what unfolds between the US and Iran”.