Bulls toss KSE-100 index over 45,000-point mark

• KSE-100 gains 223.28 points to settle at 45,152.11.
• Shares of 364 were traded during the session.
• Overall trading volumes dropped to 389.11 million shares.

KARACHI: The Pakistan Stock Exchange (PSX) extended its bull-run on the last day of the trading week and jumped over 200 points as the market participants cherry-picked stocks, which had dropped to attractive valuations.

Investors’ took fresh positions despite the ongoing political crisis in the wake of a no-confidence motion against Prime Minister Imran Khan and rising inflation in the country.

During the session, the Pakistan Bureau of Statistics (PBS) released the data on inflation based on the consumer price index (CPI) which rose to 12.7%. Meanwhile, the rupee breached the 184-mark, fell to an all-time low of Rs184.09 against the US dollar in the interbank market.

The market players, however, ignored all negative cues and posted nominal gains in anticipation of encouraging financial results for the quarter ended March 31, 2022 and a decline in international oil prices.

At the close, the KSE-100 index gained 223.28 points, or 0.5%, to settle at 45,152.11 points.

Shares of 364 were traded during the session. At the close of trading, 183 scrips closed in the green, 149 in the red, and 32 remained unchanged.

Overall trading volumes dropped to 389.11 million shares compared with Thursday’s tally of 415.63 million. The value of shares traded during the day was Rs11.1 billion.

Telecard Limited was the volume leader with 35.43 million shares traded, gaining Rs0.26 to close at Rs14.43. It was followed by TPL Properties with 26.36 million shares traded, gaining Rs0.62 to close at Rs20.82, and Treet Corporation with 24.86 million shares traded, gaining Rs0.47 to close at Rs34.40.