The 100 index maintained its upward movement on the last trading day of the week. Starting from 48743.56 points, PSX jumped to 49499.14 points very quickly, after which it increased further and closed at 49708.65 points. The Panama worries seem to have been left behind and the investors are back in the game with an intention to make profits. Overall, the stock exchange witnessed a 965.09 increase on Friday, April 21, 2017.
The bullish trend today saw more than 159 million shares being traded on the market today. Automobile sector and the parts and accessories segment of this industry bathed in green today with every prominent name closing in the green. Cement sector closely followed behind with only Fauji Cement losing out by a decrease of 0.31 points.
Chemical sector and banking industry also had a good trading day with most players closing with an increase in their share values. Fertilizers also put up a good show with a complete green outlook. The food and personal care products category seemed to have it a bit difficult with Nestlé PakistanXD and Unilever FoodsXD both closing in the red, along with a few others.
Yesterday’s positive movement of the index is partly responsible to give this confidence boost to the investors. Secondly, the announcement of budget to be made public by next month has also somewhat set the mood for economic improvement. Thereby, making the 100 index grow and swell in value.