Bulls dominate PSX as KSE-100 index crosses 47,000-point mark

Encouraging remittances, and overwhelming response from the initial public offering of Octupus Digital were leading factors in the closing of stocks on positive note.  

The KSE-100 index spiked as soon as the morning bell rang, and the momentum continued in the first half of the session, however, investors resorted to profit-booking towards the closing of the market, which erased a few of the gains by the end of the session. Bullish investor spirits helped the index end the day on a positive note.

The benchmark KSE-100 index gained 573.17 points or 1.23% on Friday, to close at 47,198.29 points.

Trading volume rose to 427.4 million shares compared to 396.4 million shares traded on Thursday (September 9).

During the session, shares of 528 listed companies were traded. At the end of the session, 308 stocks closed in the green, 203 in the red, and 17 remained unchanged.

On Friday, Azgard Nine remainbed the volume leader with 39.7 million shares, losing Rs0.25 to close at Rs24.69.

Service Fab (R) remained second with 33.5 million shares, losing Rs0.61 to close at Rs2.78, and Maple Leaf Cement with 27 million shares, gaining Rs0.77 to close at Rs40.25.