PSX closing: KSE-100 surges by over 1,000 points

WEB DESK: The Pakistan Stock Exchange (PSX) displayed remarkable resilience on Thursday as its key benchmark KSE-100 index staged a robust recovery, surging by 1,015.83 points, or 1.59 per cent, to conclude at 65,064.27.

This surge comes as a breath of relief after the index faced a downturn earlier in the week, shedding approximately 1,745 points, or 2.65 per cent.

However, the recent upturn has managed to pare down the losses to 729.5 points, or 1.11 per cent, instilling a renewed sense of optimism among investors.

Market sentiment remained cautiously optimistic ahead of the impending monetary policy decision, with opinions divided regarding the appropriate course of action for the State Bank of Pakistan.

Throughout the trading day, the index maintained a positive trajectory, recording an intraday high of 65,205.82 (+1,157.38) and a low of 64,079.97 (+31.53) points.

The total volume of the KSE-100 index stood at 136.555 million shares.

Of the 100 index companies, 82 concluded the day on a positive note, while 10 registered declines, leaving 8 untraded.

The upward momentum of the KSE-100 index was underpinned by notable performances in sectors such as oil and gas exploration companies, which contributed 261.01 points, followed by technology and communication with 93.04 points, cement with 84.55 points, oil and gas marketing companies with 75.37 points, and refineries with 71.73 points.

Conversely, sectors such as insurance, modarabas, and textile spinning experienced marginal declines.

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