Pakistan Stock Exchange achieves new record high, closing at 56,665 points

WEB DESK: The Pakistan Stock Exchange’s benchmark KSE-100 index commenced the day positively, achieving an intraday high of 56,873.99 (+350.41) in the morning.

However, it encountered robust resistance from sellers, triggering a rapid sell-off that resulted in a 755.82-point decline within just 10 minutes. The index plummeted to 56,118.17 points, nullifying its earlier gains.

Nevertheless, bullish market activity reemerged, aiming to capitalise on any downturns.

By the conclusion of the session, the KSE-100 managed a marginal increase, closing at 56,665.93 points, a new all-time high, representing a 0.25 per cent uptick or 142.35 points from the previous day’s close.

The total trading volume for the KSE-100 Index reached 255.537 million shares.

Among the 100 index companies, 37 concluded higher, 43 lower, while 20 remained untraded.

The KSE-100 index found support from Power Generation & Distribution with 114.78 points, Technology & Communication with 81.11, Automobile Assembler with 64.27, Food & Personal Care Products with 55.22, and Oil & Gas Marketing Companies with 29.48 points.

Companies contributing positively to the index included HUBC with 87.93 points, MTL with 63.74, SYS with 53.67, NESTLE with 38, and TRG with 24.66 points.

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Conversely, the KSE-100 Index faced pressure from Commercial Banks with -136.27, Fertiliser with -74.55, Cement with -33, Glass & Ceramics with -9.93, and Tobacco with -9.53 points.

Companies contributing negatively to the index were EFERT with -44.29, UBL with -36.83, MEBL with -30.02, LUCK with -28.4, and BAFL with -28.2 points.

In the broader market, the All-Share index concluded at 37,542.85, marking a net gain of 153.09 points.

The total market volume reached 526.357 million shares, a decrease from the previous session, while the traded value amounted to Rs19.54 billion, showing a decrease of Rs2.87 billion.

There were 232,768 trades reported in 363 companies, with 182 closing higher, 160 lower, and 21 remaining unchanged.

Notably, the KSE-100 has seen a substantial gain of 15,213 points or 36.7 per cent during the fiscal year, with the ongoing calendar year witnessing a cumulative increase of 16,245 points, equivalent to 40.19 per cent in the KSE-100.