PSX opens higher, gains over 600 points before easing slightly

KARACHI: The Pakistan Stock Exchange (PSX) kicked off Thursday’s session (July 24) on a positive note, with the benchmark KSE-100 Index surging by 613.47 points to reach 139,867.82 around 9:33 AM. At that time, trading volume stood at 2.28 million shares. However, some of the early momentum cooled as the session progressed, though the index remained in the green.

By 9:48 AM, the KSE-100 Index was up by 379.57 points or 0.27 per cent, standing at 139,633.92. During this period, the index fluctuated between an intraday high of 139,867.82 and a low of 139,443.04. The trading volume had increased to nearly 14.86 million shares, with the total traded value reaching Rs1.43 billion. 

In terms of performance, the KSE-100 has shown a significant rise of 75.87 per cent over the past year. Since the start of the calendar year, the index has gained 24,127 points or 20.96 per cent. In the ongoing fiscal year, which began on July 1, the index has added 13,627 points, marking a 10.85 per cent increase. 

The previous session on Wednesday saw the KSE-100 close at 139,254.35, down by 165.26 points or 0.12 per cent. It moved within a wide range of 1,097.12 points, hitting a high of 140,202.17 and a low of 139,105.05. Total traded volume for the day was 193.42 million shares. Out of the 100 companies listed on the index, 38 advanced, 60 declined, while two remained unchanged. 

Among Thursday’s early top-performing stocks were HIFA, which gained 18.45 per cent to reach Rs6.42, and GRYL, which rose 11.29 per cent to Rs7.49. TRSM, IML, UDPL, and FSWL were also among notable advancers, each posting gains of around 10 per cent. Other strong performers included TICL, FCIBL, IGIL, and UPFL, the latter jumping by Rs3,055.49 to Rs33,610.43. 

On the losing side, AMBL dropped 9.63 per cent to Rs12.10, while MQTM fell 9.58 per cent to Rs38.52. ARCTM, PPVC, and TSPL also posted notable declines ranging between 5 and 8 per cent. Other laggards included TSBL, DFSM, TATM, PPP, and DWSM.

Read next: Weaker dollar fails to lift gold as global trade talks ease fears