The stock market ended Friday’s trading session at 111,351.17, up 927.85 points or 0.84% from the previous closing, indicating a bullish trend after a two-day dip.
After a protracted period of strong selling, investors took advantage of value chances to generate new purchasing momentum.
The benchmark KSE-100 Index for the PSX surged to 112,043.77 intraday high.
“The market is rising after two sessions of down. According to Samiullah Tariq, Head of Research at Pak-Kuwait Investment Company, “it appears that profit-taking and correction are finished for the time being.”
The rally coincided with significant policy and economic announcements. Rashid Mahmood Langrial, the chairman of the Federal Board of Revenue (FBR), disclosed a startling Rs7.1 trillion revenue gap, of which Rs2.4 trillion was attributable to income tax deficiencies.
