Stock market closes trading week with a positive trend

KARACHI: The Stock Market has been consistently posting gains since the beginning of the current week. The benchmark KSE-100 index posted nearly 400 points gain on Monday, over a 100 points gain on Tuesday, 400 points gain on Wednesday and nearly 600 points gain on Thursday.

Friday morning saw slow growth in the first half of the day, but the benchmark KSE-100 index stayed in green through the morning, before posting a slight downturn close to noon. Despite that, by the jumma break, the index was seen hovering at 47,470.94 points, slightly above the opening state of 47,452.38 points.

Punjab, KP staring down the financial barrel

Trading volume also remained encouraging with over 47 million shares trading until midday.

A range of companies from different sectors showed green trading, indicating that the market confidence was improving altogether and not dependent upon a specific sector or company.

This bullish trend in the stock market can be a result of improving political stability, increase in Pakistani Rupee’s international standing against the US Dollar as well as declining petroleum prices in the international as well as local market.