KARACHI
\nAfter three consecutive sessions of losses, the Pakistan Stock Exchange (PSX) on Friday staged a modest recovery as value-hunting investors helped bulls reclaim momentum in the weekend session.
\nAccording to Topline Securities, the benchmark KSE-100 index traded largely in the positive zone throughout the day, closing at 159,592.90 \u2014 up 496.11 points, or 0.31 per cent. The rebound was driven by stronger remittance inflows in October, which rose 12 per cent year-on-year and 7 per cent month-on-month to $3.42 billion.
\nMajor contributors to the index\u2019s rise included Mari Petroleum, United Bank, Meezan Bank, Pakistan Petroleum, National Bank, and MCB Bank, which collectively added 474 points.
\nAli Najib, Deputy Head of Trading at Arif Habib Ltd, said the PSX \u201cfinally saw some respite\u201d after a brief downturn, noting that the benchmark briefly crossed the 160,000 mark but could not sustain the level due to profit-taking and end-of-week portfolio adjustments.
\nLater in the day, the Economic Coordination Committee (ECC) endorsed a framework to settle outstanding dues among key state-owned entities, alongside waivers on select financial claims to support fiscal balance and tariff rationalisation. The committee reviewed the summary from the Power Division regarding tariff adjustments and payments for nuclear and government-owned power plants, as well as the Oil and Gas Development Com\u00adpany and Sui Northern Gas Pipelines Ltd.
\nMarket participation, however, weakened sharply, with trading volume falling 19.68pc to 767.9 million shares, while traded value remained flat at Rs30.7 billion.
\nFirst National Equities Ltd led the volume chart with 85.9 million shares traded.The PSX lost the crucial 160,000 level. Analysts said market direction in the coming week will hinge on whether the index can reclaim its consolidation zone of 160,000\u2013170,000 points or extend its downward trajectory.<\/p>\n","protected":false},"excerpt":{"rendered":"
KARACHI After three consecutive sessions of losses, the Pakistan Stock Exchange (PSX) on Friday staged a modest recovery as value-hunting investors helped bulls reclaim momentum in the weekend session. According to Topline Securities, the benchmark KSE-100 index traded largely in the positive zone throughout the day, closing at 159,592.90 \u2014 up 496.11 points, or 0.31 […]<\/p>\n","protected":false},"author":2,"featured_media":512936,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-513487","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n