KARACHI – Friday saw a bullish resurgence on the trade floor following a week of uncertainty, with the Pakistan Stock Exchange’s KSE-100 index consistently marking gains throughout the morning.
The benchmark index surged by 599.06 points at 11am, reaching 66,049.24—a 0.92% increase from the previous close of 65,450.18 points, as per data from the PSX website.
The market saw activity related to Treet Battery Ltd as its shares commenced trading following the battery division’s split from First Treet Manufacturing Modaraba (FTMM) through a court-approved scheme of arrangement.
Additionally, Pakistan Telecommunication Company Ltd (PTCL) announced a significant development, finalising a share purchase agreement with Telenor Pakistan to acquire its entire shares, valuing at Rs108 billion ($380 million).
Shahbaz Ashraf, FRIM Ventures’ Chief Investment Officer, attributed the market rally to attractive equity valuations and surplus liquidity in circulation. He emphasized the prevailing sentiment that the economy was poised for recovery in the coming months, contributing to the market’s gain of 1.2%.
