Stocks rise amid record OGDC earnings
The Pakistan Stock Exchange saw a modest gain as investors reacted to record earnings from the Oil & Gas Development Company. Market sentiment remains cautious due to potential government policy changes regarding refining margins.
Why it matters
Fluctuations in the energy sector and government regulatory shifts significantly impact Pakistan's economic stability.
--> Home Business Stocks rise amid record OGDC earnings Investors stay cautious; govt weighs HSD margin cut to $30/barrel
facebook --> twitter --> whatsup --> linkded --> email MORE (3) Messenger Whatsapp --> KARACHI: Pakistan Stock Exchange (PSX) closed the week modestly higher on Friday as the benchmark KSE-100 index gained almost 400 points to settle near 175,330. The rebound trimmed the week-on-week decline to 1.33% after a range-bound session in which investors largely stayed on the sidelines.
Arif Habib Limited (AHL), in its report, called it a modest recovery, where the KSE-100 closed 0.23% higher at 175,328.82, trimming the week-on-week decline to 1.33%. On the index, 60 stocks advanced and 38 declined. Meezan Bank, Bank AL Habib and Mari Energies made the largest positive contribution, while United Bank, Attock Refinery and Pakistan Services weighed heavily.
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