Stocks End Week on a High After Positive IMF Discussions

The 100-Index of the Pakistan Stock Exchange (PSX) continued with bullish trend on Friday, gaining 441.93 points, a positive change of 0.38 percent, closing at 115,536.17 points as compared to 115,094.24 points on the last trading day. In a note, brokerage house Topline Securities said that KSE-100 Index extended its gains as expectation that Pakistan will clear it first review of $7 billion IMF EFF bailout program continued to garner investor interest. A total of 360,456,374 shares were traded during the day as compared to 382,791,629 shares the previous trading day, whereas the price of shares stood at Rs. 21.039 billion against Rs. 25.407 billion on the last trading day. As many as 435 companies transacted their shares in the stock market, 195 of them recorded gains and 169 sustained losses, whereas the share price of 71 companies remained unchanged. The three top trading companies were Pak International Bulk with 42,700,806 shares at Rs. 9.92 per share, Bank of Punjab with 36,140,223 shares at Rs. 13.09 per share and Fauji Foods Limited with 25,615,139 shares at Rs. 16.06 per share. Unilever Pakistan Foods Limited witnessed a maximum increase of Rs. 195.80 per share closing at Rs. 23,413.00 whereas runner-up was Mari Energies Limited with Rs. 28.04 rise in its share price to close at Rs. 605.66. Rafhan Maize Products Company Foods Limited  witnessed a maximum decrease of Rs. 80.16 per share price, closing at Rs. 9,099.84, whereas the runner-up was PIA Holding Company Limited with Rs. 71.55 decline in its per share price to Rs. 856.92.