The Pakistan Stock Exchange (PSX) started the week with a strong rally on Monday, as the KSE-100 index gained 3.87 percent in intraday trading.
The stock market touched a high of 113,833.69 points from the previous close of 109,513.14.
It had earlier touched a low of 110,891.35 points.
The total market value was 12,022,506,787, with a trading volume of 106,155,448 shares.
This positive movement reflects strong investor confidence, which contributes to an optimistic outlook for the market.
Earlier, the Pakistan Stock Exchange (PSX) The week experienced significant volatility, with the KSE-100 index experiencing large swings due to various factors, including profit-taking, policy changes, and economic indicators.
The week started on a positive note with a gain of 1,867 points as the State Bank of Pakistan (SBP) cut its policy rate by 200 basis points to 13 percent, raising investor hopes.
However, the rally was short-lived as the market corrected due to tax policies and mutual fund exits.
The KSE-100 index witnessed a major decline on Wednesday with a historic decline of 3,790 points, followed by further selling on Thursday, resulting in a total loss of 4,700 points.
Despite these setbacks, the market rebounded on Friday with a strong rally of 3,238 points, positive economic developments such as the government’s efforts to privatize state-owned enterprises, rising exports, and stable foreign exchange reserves.
By the end of the week, the KSE-100 index closed at 109,513, down 4,789 points (4.19%) weekly.
The PSX was hit by sector-wise declines in oil and gas, fertilizers, cement, and banking stocks, while the oil marketing companies and power sectors showed some positive moves.
Foreign investors continued to sell, particularly in exploration and production companies and banks, while local buying was seen among individuals and banks/DFIs. Trading volume eased, and the Pakistani rupee eased slightly to 278.42 against the US dollar.