KSE-100 jumps over 750 points as PSX opens

KARACHI: The Pakistan Stock Exchange (PSX) opened the week on a positive footing, with the benchmark KSE-100 Index climbing 759.77 points to 122,903.33 by 10:19 AM. At that point, trading volume stood at approximately 26.94 million shares. 

The market remained in the green during the first hour of trading. The session’s lowest level was recorded at 122,168.25, which was still 24.69 points above the previous close. This dip came in the initial minutes after the market opened at 9:31 AM, when volume was thin at just 183,710 shares. 

By 10:24 AM, the index had eased slightly but was still up by 662.08 points, or 0.54 per cent, at 122,805.64, with volume increasing to around 29.03 million shares. 

On a year-on-year basis, the KSE-100 has gained 60.10 per cent, while the year-to-date (YTD) return stands at 6.67 per cent. Over the past 52 weeks, the index has traded between a low of 76,103 and a high of 126,718.28. 

In early trading, some of the notable gainers included PMI, which jumped 29.5 per cent or Rs1.00 to Rs4.39, followed by PASL, which rose 26.28 per cent or Rs0.77 to Rs3.70. SHNI also saw a sharp increase of 19.79 per cent or Rs0.94 to Rs5.69. 

On the downside, AMBL dropped 10.03 per cent or Rs1.17 to Rs10.49. GEMBLUEX was down 10 per cent or Rs6.68 to Rs60.10, while KHYT also declined 10 per cent or Rs179.45 to Rs1,615. 

Recap: Previous week’s close 

The benchmark KSE-100 Index ended the previous trading week at 122,143.56, falling by 1,949.56 points, or 1.57 per cent, during Friday’s session alone. The index moved within a range of 1,453.47 points, hitting an intraday high of 123,058.06 and a low of 121,604.59. 

Trading volume for the KSE-100 Index reached 238.19 million shares on Friday. 

The sharp decline was driven by escalating geopolitical tensions, particularly after Israel launched a military strike on Iran, prompting investor caution across the board. 

Read next: Safe-haven demand lifts gold prices near two-month high