PSX gains 353 points despite trading halt due to fire

KARACHI: The Pakistan Stock Exchange (PSX) demonstrated resilience on Monday as the KSE-100 Index extended its bullish run, gaining 353.41 points, or 0.44 per cent, to close at 80,566.2.

The trading day faced an unexpected disruption when a fire broke out at the PSX building about an hour before the market was scheduled to open.

The PSX promptly activated a high-security alert, restricting access to the building to essential personnel and firefighting crews. Trading was halted for two hours and resumed around 12:30 PM.

Despite the early interruption, the KSE-100 Index showed a significant range of movement, fluctuating by 545.39 points. The index reached an intraday high of 80,737.70 points (+524.91) and a low of 80,192.31 points (-20.48). The total trading volume for the KSE-100 Index was 138.37 million shares.

Out of the 100 companies within the index, 55 ended the day with gains, 40 saw declines, and 5 remained unchanged. Key sectors contributing to the index’s performance included Commercial Banks (+204.08 points), Cement (+76.28 points), Refinery (+44.04 points), Oil & Gas Marketing Companies (+36.43 points), and Power Generation & Distribution (+27.53 points).

Conversely, the index was negatively impacted by Fertilizer (-45.21 points), Automobile Assembler (-31.13 points), Technology & Communication (-22.36 points), Leather & Tanneries (-18.34 points), and Synthetic & Rayon (-3.47 points).

Notable companies that boosted the index were HBL (+74.34 points), NBP (+65.00 points), ABL (+37.44 points), PPL (+31.69 points), and UBL (+29.15 points). On the downside, companies that dragged the index lower included MCB (-30.11 points), MTL (-30.06 points), POL (-24.68 points), TRG (-19.69 points), and EFERT (-19.32 points).

The broader market mirrored the KSE-100’s positive sentiment, with the All-Share Index closing at 51,169.33, marking a net gain of 392.98 points, or 0.77 per cent. The total market volume was 261.65 million shares, a decrease from the previous session’s 448.98 million shares.

The traded value stood at Rs13.02 billion, down by Rs5.97 billion. Overall, 146,374 trades were executed across 425 companies, with 216 closing up, 156 closing down, and 53 remaining unchanged.

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