Eighth straight gain: Pakistan stock market gains more than 300 points

WEB DESK: In Wednesday’s trading session, the Pakistan Stock Exchange (PSX) continued its robust performance, marking the eighth consecutive session of gains.

The KSE-100 index, the key benchmark for the PSX, closed positively at 48,474.54, showing an increase of 334.26 points, or 0.69 per cent, day-on-day.

Throughout the session, the index remained optimistic, reaching an intraday high of 48,516.64, an increase of 376.37 points. The total trading volume for the KSE-100 Index stood at 275.944 million shares.

This week, the KSE-100 Index has surged by 980.97 points, reflecting a notable increase of 2.07 per cent. This rise adds to the previous week’s gain of 1,260.98 points, or 2.73 per cent.

Consequently, the cumulative month-to-date gain now stands at 2,241.95 points, indicating a substantial 4.85 per cent increase.

During today’s session, 59 out of the 100 index companies experienced positive closures, while 33 closed in the negative zone.

The KSE-100 index was bolstered by sectors such as fertiliser, power generation and distribution, oil and gas exploration companies, food and personal care products, and commercial banks, contributing 106.72, 75.59, 71.32, 26.84, and 24.9 points, respectively.

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Specific companies that added points to the index included HUBC with 51.64 points, FFC with 42.83 points, ENGRO with 39.3 points, PPL with 35.26 points, and EFERT with 28.76 points.

Conversely, sectors like Engineering, Pharmaceuticals, Synthetic & Rayon, Refinery, and Cable & Electrical Goods subtracted points from the index, with decreases of 5.24, 4.86, 3.96, 3.88, and 2.11 points, respectively.

Companies that significantly impacted the index negatively were TRG with 9.52 points, CHCC with 7.1 points, BAHL with 5.45 points, LUCK with 5.35 points, and IBFL with 3.96 points.

This dynamic trading session showcased the market’s resilience and the diverse factors influencing stock movements.