PSX starts week with over 900-point gain in early trading

KARACHI: The Pakistan Stock Exchange (PSX) began the week on a positive note, with the benchmark KSE-100 index opening in green. The index surged by 596.85 points within the first minute of trading, reaching 115,868.93. At the same time, the trading volume was recorded at 467,277 shares, indicating an optimistic start to the day.

By 9:59 AM, the positive momentum continued as the KSE-100 index rose further to 115,898.97, marking a gain of 626.89 points. The trading volume had also increased significantly, reaching 30,851,050 shares. The index maintained this upward trend, reflecting strong market sentiment.

As of 11:00 AM, the lowest point for the day was 115,272.08, still 396 points higher than its previous close of 114,876.08 on Friday. However, the highest level reached by this time was 116,249.20, with the index up by 977.12 points at around 10:57 AM. The trading volume had surged to 96,621,821 shares, further showcasing the robust activity in the market.

Several companies in the KSE-100 index were trading in the green during this period. LOTCHEM saw a rise of 6.05 per cent, with its share price increasing by Rs1.29 to Rs22.63. MEHT followed with a gain of 3.84 per cent, raising its price by Rs25.12 to Rs678.98. EFUG experienced a 3.33 per cent increase, with its share price rising by Rs3.78 to Rs117.48, while SEARL and GLAXO also showed positive gains of 3.32 per cent and 3.27 per cent, respectively.

On the other hand, several companies faced declines. PKGP dropped by 5.55 per cent, with its share price falling by Rs5.88 to Rs100.02. PSEL decreased by 2.43 per cent, down by Rs22.74 to Rs915, while UPFL saw a 2.26 per cent decline, with its price falling by Rs496.98 to Rs21,501. JVDC and MUREB also faced losses, with their share prices dropping by 1.93 per cent and 1.05 per cent, respectively.

Looking at the broader market performance, the PSX has shown a remarkable increase of 83.78 per cent over the past year. Year-to-date, it has risen by 0.89 per cent. The stock market’s 52-week range has been between 59,191.86 and 118,735.10, reflecting significant volatility and growth over the period.

Read next: Intraday trade: PKR gains over 20 paisa against USD