The Pakistan Stock Exchange (PSX) continued its buying momentum on Friday, with the benchmark KSE-100 Index gaining 442 points to close at 115,536.17, up 0.38%. The index saw an intra-day high of 115,730.98 before mild selling pushed it to a low of 115,162.69.
Investor sentiment remained positive on expectations that Pakistan will successfully clear its first review under the $7 billion IMF Extended Fund Facility (EFF) programme. Late-session buying drove the index higher, with key contributors including MARI, FFC, EFERT, SYS, AIRLINK, and PAEL, which collectively added 426 points.
On a weekly basis, the KSE-100 posted a 1% gain, driven by China’s $1 billion debt rollover and encouraging progress in talks with the IMF.
Meanwhile, the Federal Board of Revenue (FBR) reported a revenue shortfall of Rs601 billion for the first eight months (July-February) of FY2024-25, collecting Rs7,346 billion against the target of Rs7,947 billion. February’s revenue stood at Rs850 billion, falling short of the Rs983 billion target.
In global markets, Asian stocks attempted a rebound after a sharp selloff, while gold hit a record high amid escalating trade tensions. The Pakistani rupee, however, saw a marginal decline against the US dollar, closing at 280.21 in the interbank market.
Trading volume on the all-share index dropped to 360.46 million shares from 382.79 million in the previous session, while the value of shares traded fell to Rs21.04 billion. Pak Int. Bulk led the volume charts with 42.70 million shares, followed by B.O. Punjab and Fauji Cement.
