PSX gains 961.7 points to close at new record high of 63,917.72 points

WEB DESK: The Pakistan Stock Exchange (PSX) continues its robust performance, as the benchmark KSE-100 Index surged by 961.7 points, or 1.53 per cent, reaching a new record high of 63,917.72 at the close of today’s session.

Pakistan Stock Exchange closes at new record high

Throughout the day, the index maintained a positive trend, reaching an intraday high of 64,038.83 (+1,082.80) and a low of 63,188.72 (+232.69) points.

The trading session witnessed a substantial increase in the total volume of the KSE-100 Index, with a surge to 515.164 million shares.

Investor confidence remains buoyant, driven by optimism regarding improved economic conditions.

This optimism stems from anticipated inflows from the International Monetary Fund (IMF) and friendly countries, a relatively stable currency supported by government-backed administrative efforts, and the potential for a reduction in interest rates.

Among the 100 index companies, 60 concluded the day with gains, 15 with losses, 1 remained unchanged, and 24 were untraded.

Noteworthy contributors to the positive performance of the KSE-100 Index included commercial banks, oil and gas exploration companies, technology and communication, fertilisers, and cement.

Specifically, companies such as MEBL, HBL, TRG, PPL, and SYS played a significant role in bolstering the index.

On the flip side, sectors like tobacco, automobile assembly, insurance, glass and ceramics, and property exerted downward pressure on the index.

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In the broader market, the All-Share index closed at 42,533.31, registering a net gain of 526.64 points.

The total market volume saw an increase to 984.814 million shares, compared to 765.418 million in the previous session, with a traded value of Rs35.09 billion, reflecting a rise of Rs4.24 billion.

Market activity was notable, with 326,248 trades reported in 383 companies. Of these, 258 companies closed with gains, 117 with losses, and 8 remained unchanged.

It is noteworthy that the KSE-100 has witnessed a remarkable gain of 22,465 points, or 54.19 per cent, during the fiscal year.

Additionally, the ongoing calendar year has seen a cumulative increase of 23,497 points, equivalent to 58.13 per cent in the KSE-100.