Fridays usually see a selling pressure across the trading board; however PSX made its day as KSE 100 Index gained 0.86 percent or 281.07 points to close at 33,033.32 finally breaking the psychological barrier of 33,000 points. KSE 100 index volume stood at 144.768 million shares as compared to volume of 210.217 million shares on Thursday. Foreign investors went for profit taking on Friday with outflow worth of USD 6.09 million.

Main positive sentiment still drove from the meeting of top businessmen of the country with Chief of Army Staff, Prime Minister and his economic team.

On the other hand, latest economic data still portrayed a gloomy picture as the current government is expected to add almost Rs. 19.3 trillion to its public debt in next five years. The respective figure is equal to the 80 percent of debt gathered in last 71 years. This would result in increase of Rs. 4.2 trillion to Rs. 35.2 trillion in public debt by the end of the current fiscal year. Almost Rs. 3.2 trillion is accounted for budget deficit while remaining Rs. 1.1 billion out of Rs. 4.2 trillion was contributed by the currency devaluation as per latest data of Ministry of Finance.

KSE All index appreciated by 177.91 or 075 percent to 23,972.47 points, with total market volume of 261.816 million shares as compared to 324.260 million shares on Thursday. KSE 30 Index gained 143.31 points or .93 percent to 15,493.02 with volume of 86.434 million shares.

Major sectors that contributed included Oil & Gas Exploration, Banking, Oil & Gas Marketing, Fertilizer and Power Generation & Distribution making 100 Index benchmark ending in green.

Worldcall Telecom Limited (WTL) remained the most traded stock with total volume of 33.228 million shares and reported the gain of 6.78 percent to Rs. 1.26. Dost Steel Limited (DSL) skyrocketed by 22.17 percent for the day at Rs. 5.51 and total traded volume of 15.182 million shares. Unity Foods Limited (UNITY) plunged 2.84 percent to Rs. 9.93 with volume of 13.53 million shares while Maple Leaf Cement Factory Limited (MLCF) increased by 1.54 percent to Rs. 17.75 having traded volume of 11.309 million shares.

Umer Akhtar

Umer Akhtar

Umer Akhtar has an diverse experience in commercial & corporate banking. He has been associated with several websites covering NYSE and NASDAQ. Mr. Umer Akhtar holds a command over fundamental & technical analysis of stocks and capital markets.

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