PSX opens strong as KSE-100 surges over 900 points

KARACHI: The Pakistan Stock Exchange (PSX) opened on a positive note on the second trading day of the week, with the benchmark KSE-100 index showing strong upward momentum. At the market open, the index surged by over 600 points as investor confidence seemed to return.

By around 9:31 AM, the index had risen by 290.59 points to reach 114,392.82, while the volume stood at just 419,383 shares. This came after the PSX had closed Monday’s trading session at 114,102.23.

As the session progressed, the market extended its gains. Around 8:34 AM, the index had risen by 678.48 points to 114,780.71 with the volume climbing to 4,756,067 shares. The upward trajectory continued and by 9:48 AM, the KSE-100 index witnessed a sharp surge of 804.34 points, reaching 114,906.57, reflecting a 0.7 per cent rise.

At this level, the one-year performance of the index shows a gain of 57.59 per cent. However, on a year-to-date (YTD) basis, the KSE-100 is still down by 0.40 per cent. Over the last 52 weeks, the index has fluctuated between a low of 71,781.96 and a high of 120,796, reflecting a wide trading range and substantial volatility.

Among individual stocks, several companies were trading in the green. Punjab Oil Mills Limited (POML) rose by 10 per cent or Rs21.62 to trade at Rs237.81. Pak-Gulf Leasing Company Limited (PGLC) saw an increase of 4.09 per cent or Rs0.88 to Rs22.40, while Yousaf Weaving Mills Limited (YOUW) climbed 3.47 per cent or Rs0.12 to Rs3.58. On the other hand, some major companies experienced losses.

Nestle Pakistan Limited (NESTLE) declined by 4.64 per cent or Rs333.36 to Rs6,857. Pakistan Tobacco Company Limited (PAKT) fell by 1.34 per cent or Rs15.91 to Rs1,170.02, and Service Industries Limited (SRVI) dropped 0.28 per cent or Rs2.94 to Rs1,055.

By around 9:58 AM, the PSX continued to trade strongly in the green, with the index up by 966.98 points at 115,069.21. At that time, the trading volume stood at 23,832 shares.

On Monday, the KSE-100 index had closed at 114,102.23, showing a marginal decline of 11.70 points or 0.01 per cent. Investors remained cautious during that session ahead of the Monetary Policy Committee (MPC) meeting, which is expected to guide market direction in the near term.

The index had traded within a range of 1,474.54 points, hitting an intraday high of 114,552.20 and a low of 113,077.66, highlighting significant market fluctuations.

KSE-100 pares early gains, slips into red

The KSE-100 index turned negative in the afternoon session, falling 0.06 per cent, or 100.11 points, to 114,002 at around 2:11 PM. Trading volumes at the time stood at approximately 133.3 million shares.

The downturn followed a strong start to the day, with the index climbing as high as 115,093.1 points around 10:03 AM, gaining 990.87 points in early trade. The early rally was short-lived, however, as selling pressure erased gains by mid-session.

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