PSX crosses 150,000 mark again in intraday trade

KARACHI: The Pakistan Stock Exchange (PSX) continued its upward momentum on Wednesday, with the benchmark KSE-100 index holding firmly in positive territory since the opening bell.

The market opened at 9:30am in green and maintained gains throughout the early session without slipping into the red. At around 9:31am, the KSE-100 index was up 335.42 points at 150,106.16, with volumes at 446,077 shares.

However, by 9:42am, the gains slightly eased as the index was up 160.93 points at 149,931.60 on a much higher turnover of over 16.1 million shares.

Momentum picked up strongly again later in the morning. By 11:06am, the PSX had surged 1,161.68 points to 150,932.42 with a trading volume of 117.45 million shares, pushing the benchmark well past the 150,000-point mark once more.

Just a few minutes later, at 11:14am, the KSE-100 stood at 150,894.62, reflecting an increase of 1,123.88 points or 0.75 percent.

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As of that time, the day’s high was recorded at 150,941.81 points, while the low was 149,931.67. The total traded volume reached 123.13 million shares.

Market performance indicators

The PSX has gained 94.09 percent on a one-year basis and is up 31.07 percent year-to-date (YTD). So far during Wednesday’s session, the index has remained within a day range of 149,931.67 to 150,941.81. Its 52-week range stands between 77,460.40 and 150,941.82.

Top movers

Among the notable advancers were ANSM (up 11.44 percent), KOHP (up 11.43 percent), PPVC (up 10.03 percent), and SEARL (up 10 percent). Other strong performers included AATM, ECOP, FSWL, and LEUL, each gaining around 10 percent.

On the flip side, SANSM was the biggest decliner, down 10 percent. NBPGETF fell 9.13 percent, TICL shed 7.83 percent, and JSIL dropped 7.38 percent. Other laggards included DMC, BAFS, BHAT, HRPL, EPCLPS, and GUSM, which all saw declines ranging between 5 and 7 percent.

Previous session

A day earlier on Tuesday, the benchmark index had closed at 149,770.74, up 1,574.32 points or 1.06 percent, with an intraday high of 150,323.38 and a low of 148,293.94. Trading volume for the day stood at 340.19 million shares.

The historic 150,000-point milestone, crossed for the first time on Tuesday, drew praise from Prime Minister Shehbaz Sharif.

In a statement, he expressed satisfaction over the market’s performance, crediting it to improving economic conditions and restored investor confidence.

He thanked the business community for showing trust in government policies while stressing that more efforts are needed to sustain economic progress.

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