PSX sees positive closure, gains 1.37%

KARACHI: The Pakistan Stock Exchange (PSX) witnessed a remarkable surge today as the benchmark KSE-100 index closed the Thursday trading session at an impressive 64,578.52, marking an increase of 875.07 points, or 1.37 per cent.

The market maintained a positive trajectory throughout the day, reaching an intraday high of 64,801.64 (+1,098.19) and a low of 63,827.25 (123.80) points. Trading activity was robust, with a total volume of 223.52 million shares exchanged.

PSX closing February 29, 2024

Among the 100 index companies, 58 concluded in the green, 36 in the red, 2 remained unchanged, and 4 were untraded.

Noteworthy contributors to the positive momentum were commercial banks, fertilisers, oil and gas exploration companies, automobile assemblers, and power generation and distribution.

Commercial banks led the charge with 251.04 points, followed by fertiliser with 211.81, oil and gas exploration companies with 184.49, automobile assemblers with 111.28, and power generation and distribution with 68.06 points.

Conversely, Technology & Communication, Cement, Synthetic & Rayon, Automobile Parts & Accessories, and Cable & Electrical Goods saw declines, exerting downward pressure on the index.

Individual companies played a pivotal role in shaping today’s outcome. EFERT, MTL, PPL, HUBC, and UBL added significant points to the index, while TRG, LUCK, IBFL, DGKC, and PKGP contributed to its dip.

In the broader market, the All-Share index closed at 42,840.89, posting a net gain of 387.81 points. The total market volume reached 424.044 million shares, with a traded value of Rs17.05 billion, reflecting an increase of Rs1.05 billion from the previous session.

Trading activity remained active, with 191,571 reported trades involving 364 companies. Out of these, 188 closed higher, 161 lower, and 15 remained unchanged.

Notably, the KSE-100 has exhibited robust performance, gaining 23,126 points, or 55.79 per cent, during the fiscal year.

The ongoing calendar year has seen a cumulative increase of 2,127 points, equivalent to 3.41 per cent.

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