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PSX gains over 1,500 points in intraday trade

PSX gains over 1,500 points in intraday trade

Web Desk
Dec 27, 2024

KARACHI: The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index opened the final trading day of the week in the red, with the index down by 176.39 points at 110,246.93.

This follows the KSE-100 Index’s closing position on Thursday at 110,423.32. Remarkably, exactly one year ago, the KSE-100 Index stood at 60,683.62. Comparing it to Thursday’s closing figure, the index has gained over 49,000 points in the past 12 months.

By 11:04 AM, the index had surged to 111,670.25, gaining 1,246.93 points.

This marked the highest level of the day, achieved shortly before 11:25 AM. The trading volume stood at 113,773,395 shares.

Top gainers

Symbol	Price	Change	Volume
SIBL	7.99	+1.00 (14.31 per cent)	582,673
NEXT	10.90	+1.00 (10.10 per cent)	239,920
SUHJ	108.97	+9.91 (10.00 per cent)	1,505
NRSL	35.41	+3.22 (10.00 per cent)	1,196,928
BIFO	208.88	+18.99 (10.00 per cent)	366,843

Top losers

Symbol	Price	Change	Volume
GEMBCEM	8.10	-1.00 (10.99 per cent)	2,000
GEMBLUEX	40.15	-4.46 (10.00 per cent)	250
AKGL	41.71	-4.63 (9.99 per cent)	2,593
OML	36.01	-3.99 (9.98 per cent)	1
SARC	33.04	-3.63 (9.90 per cent)	3,446

The stock market made a notable recovery with the benchmark KSE-100 Index surging over 1,500 points during the latter half of the trading session.

By 2:35 pm, the PSX had reached 111,979.61, representing a 1.41 per cent increase of 1,556.29 points. Although the PSX dipped slightly around 3:00 pm, it still maintained a 1.26 per cent gain of 1,396 points at 111,819.24.

This upswing followed a period of selling pressure with investors showing renewed interest in value picking after days of heavy selling.

In contrast, the PSX faced significant pressure on Thursday, closing deeply in the red due to investor concerns over the security situation on the border and year-end portfolio adjustments.

The KSE-100 Index plummeted by 1,991.49 points or 1.77 per cent to close at 110,423.32 points.