PSX intraday update: KSE-100 gains over 1,500 points

KARACHI: The Pakistan Stock Exchange’s (PSX) KSE-100 index experienced a robust increase of over 1,500 points on the first trading day of the week, surpassing the 85,000 mark.

As of 10:36 AM, the index stood at 84,037.02, reflecting a gain of 505.07 points, or 0.6 per cent, from the previous close of 83,531.95. During trading, the lowest level recorded was 83,303.54.

As of 12:40 PM, the KSE-100 Index stood at 84,425.67, reflecting an increase of 893.72 points, or 1.07 per cent.

A buying trend was observed in index-heavy sectors, including automobile assemblers, cement, commercial banks, fertilizers, oil and gas exploration companies, and oil marketing companies (OMCs).

Notable index-heavy stocks such as National Bank of Pakistan (NBP), Meezan Bank (MEBL), Fauji Fertilizer Bin Qasim (FFBL), Pakistan Petroleum Limited (PPL), Oil and Gas Development Company (OGDC), Sui Northern Gas Pipelines Limited (SNGP), and Pakistan State Oil (PSO) were all in positive territory.

Around 3:30 PM, the KSE-100 index was seen at 85,047, about 1,516 points up from its last close of 83,531.

In the last trading session on Friday, the PSX demonstrated a bullish trend, reaching historic highs during the week ending on October 4. This surge was driven by strong local investor interest, along with institutional support.

On a week-on-week basis, the benchmark KSE-100 surged by 2,239.83 points, crossing the psychological threshold of 83,000 for the first time in history, and closing at an all-time high of 83,531.96 points.

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