PSX posts strong gains, closes above 76,000 level

KARACHI: The Pakistan Stock Exchange (PSX) witnessed a historic surge today as its benchmark KSE-100 index skyrocketed by 3,410 points, or 4.69 per cent, to close at an unprecedented 76,208 points.

This marks the largest single-day increase in point terms in the history of the index and the highest percentage gain since the International Monetary Fund (IMF) bailout package last year.

During the trading session, the KSE-100 index displayed significant volatility, dipping to an intraday low of 73,329 points before reaching an intraday high of 76,338 points. The robust recovery was largely driven by substantial gains in key sectors, reflecting a positive market sentiment.

Out of the 100 companies listed on the index, 87 saw their shares rise, while 9 experienced declines, and 4 remained unchanged. Leading the rally were the Commercial Banks, which contributed 1,074.36 points, followed by Oil & Gas Exploration Companies (578.9 points), Fertilizer (451.08 points), Cement (434.59 points), and Power Generation & Distribution (257.02 points).

Conversely, the index faced minor setbacks from the Textile Composite sector, which lost 68.44 points, Food & Personal Care Products (45.99 points), Leasing Companies (0.07 points), Woollen (0.02 points), and Vanaspati & Allied Industries, which remained unchanged.

The trading volume was notably high, with 344,982,490 shares changing hands, under

scoring a significant level of market activity. The KSE-100 index had previously closed at 72,797 points on Wednesday, highlighting the substantial uptrend in today’s session.

This remarkable performance reflects investor confidence and a potential positive outlook for the market, driven by favourable economic indicators and sectoral strength.

Throughout the trading session, the KSE-100 index experienced fluctuations, reaching an intraday low of 73,329 points and peaking at an intraday high of 76,338 points.

The total volume of shares traded amounted to 344,982,490, indicating a significant level of market activity.

Of note, the index had closed at 72,797 on Wednesday, showcasing a notable uptrend in today’s trading session.

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