PSX gains over 800 points as buying resumes across key sectors

KARACHI: Pakistan Stock Exchange (PSX) opened Thursday’s trade in the green with gains, as the benchmark KSE-100 index rose by 205.99 points from its previous day’s close of 113,443.43 to 113,649.42 within the first three minutes of trade.

However, it soon fell into the red for some time as the KSE-100 witnessed losses, dropping by 209.12 points to 113,234.31 around 9:57 AM, when the volume stood at 36,059,209 shares. This remained the day’s low as of 1:00 PM.

After some fluctuations, the PSX was back in the green. The KSE-100 index rose by 785 points to 114,228.43 around 11:12 AM, when the volume stood at 113,669,318 shares.

Later, the stock market extended its gains as the KSE-100 rose by 876.19 points to 114,319.62, with a volume of 136,889,214 shares. This remained the highest point the PSX reached till 1:00 PM.

The majority of auto-assembling companies were trading in the green, including Indus Motor Company Limited (INDU), which was up by 0.66 per cent or Rs13.51 to Rs2,055. Atlas Honda Limited (AHL) was up by 0.58 per cent or Rs4.53 to Rs792.

Millat Tractors Limited increased by 0.23 per cent or Rs1.56 to Rs687.40. Sazgar Engineering Works Limited (SAZEW) rose by 0.11 per cent or Rs1.11 to Rs995.50. However, the only auto assembler in the red around 1:00 PM was Honda Atlas Cars (Pakistan) Limited, which was down by 0.68 per cent or Rs2.09 to Rs305.98.

Among the KSE-100 index companies, the percentage-wise gainers included Pak-Gulf Leasing Company Limited (PGLC), which was up by 5.87 per cent or Rs1.22 to Rs21.99. Fauji Cement Company Limited (FCCL) increased by 4.77 per cent or Rs1.84 to Rs40.42, while Pioneer Cement Limited (PIOC) was up by 3.44 per cent or Rs6.43 to Rs193.50.

Considering the one-year change, the PSX is up by 77.08 per cent, whereas the KSE-100 index is down by 0.86 per cent year-to-date (YTD).

For those unaware, the PSX has traded between a 52-week range of 59,191.86 to 118,735.10.

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