PSX continues bullish trend as KSE-100 settles at record high of 80,233

KARACHI: The Pakistan Stock Exchange (PSX) witnessed a bullish surge on Wednesday, propelling the benchmark KSE-100 index past the significant 80,000 mark.

The KSE-100 index closed at a historic high of 80,233.67 points, marking an increase of 680.79 points or 0.86 per cent from the previous session.

Throughout the day, the index fluctuated within a range of 707.98 points, reaching an intraday high of 80,405.23 points and a low of 79,697.25 points. The trading volume for the KSE-100 index amounted to 280.09 million shares.

Out of the 100 index companies, 65 recorded gains, 31 posted losses, and 4 remained unchanged.

Key sectors contributing to the index’s rise included Commercial Banks (+274.44 points), Oil & Gas Exploration Companies (+161.35 points), Power Generation & Distribution (+87.90 points), Cement (+87.45 points), and Oil & Gas Marketing Companies (+68.34 points).

Conversely, sectors that weighed down the index were Fertilizer (-102.98 points), Tobacco (-32.38 points), Engineering (-29.42 points), Automobile Assemblers (-12.75 points), and Automobile Parts & Accessories (-6.91 points).

Prominent companies driving the index upwards were HBL (+121.23 points), POL (+88.86 points), HUBC (+85.79 points), NBP (+46.85 points), and SYS (+46.23 points). On the downside, FFC (-56.14 points), EFERT (-41.89 points), PAKT (-32.38 points), FABL (-17.03 points), and INIL (-14.87 points) were the major detractors.

In the broader market, the All-Share index closed at 50,771.44 points, registering a net gain of 364.20 points or 0.72 per cent. The total market volume surged to 536.58 million shares from the previous session’s 413.15 million shares, with the traded value increasing by Rs6.13 billion to Rs22.72 billion.

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