In positive economic development, Pakistan Stock Exchange hits the highest level of 2019
*ISLAMABAD - The Pakistan Stock Exchange (PSX) has bounced back from a slight dip on Thursday, reaching a 10-month high Friday morning.*
Just before trade suspended for Friday prayers, the KSE-100 index crossed the 41,000 level, gaining more than 516 points or 1.26% from where it began on Friday.
“The market started with oil and gas sector earnings per share [EPS] gains that eventually spilled over to other sectors,” said Raza Jafri of Intermarket Securities. “While the market will continue from its peak after the prayer break is over and the trade will resume, it is not speculative to suggest it may also end on a positive note.”
Bank of Punjab had the highest trading volume and was trading over Rs12.3 million worth of shares. It also saw a 2.5% rise in the value of their shares over yesterday.
Following this was Unity Foods Limited, which traded over Rs12 million worth of shares.