PSX sees early rally with KSE-100 jumping over 580 points

KARACHI: The Pakistan Stock Exchange (PSX), on the second trading day of the week, opened in the green with notable gains.

The benchmark KSE-100 index surged by 580.04 points from its Monday close of 115,844.81 within the first two minutes of trading and rose to 116,424.85, with a trading volume of 1,343,094 shares.

The lowest point recorded by the PSX as of 10:05 AM was when it fell into the red at 115,817.90, exhibiting a loss of 26.91 points at around 9:41:59 AM.

In percentage terms, among KSE-100 companies, those seen in the red included Punjab Oil Mills Limited (POML), which was down by 5.07 per cent or Rs8.02 to Rs150, Pak-Gulf Leasing Company Limited (PGLC), which fell by 4.63 per cent or Rs1.05 to Rs21.65, EFU General Insurance Limited (EFUG), down by 3.25 per cent or Rs3.70 to Rs110, Pakistan Tobacco Company Limited (PAKT), down by 2.27 per cent or Rs28.62 to Rs1,230, and Habib Metropolitan Bank Limited (HMB), which declined by 1.70 per cent or Rs1.69 to Rs97.54.

On the other hand, companies trading in the green with gains included Fauji Cement Company Limited (FCCL), which was up by 5.37 per cent or Rs1.90 to Rs37.26, Bestway Cement Limited (BWCL), which rose by 2.63 per cent or Rs9.43 to Rs367.60, Yousaf Weaving Mills Limited (YOUW), which gained 2.24 per cent or Rs0.09 to Rs4.10, and Avanceon Limited (AVN), up by 2.07 per cent or Rs1.23 to Rs60.80.

In terms of 1-year change, the KSE-100 index is up by 81.64 per cent, while the year-to-date (YTD) change shows a 0.88 per cent increase. Moreover, in terms of the 52-week range, the PSX has traded between 59,191.86 and 118,735.10.

As of 10:22 AM, the overall top advancers included BML, AGL, LEUL, OML, and DMTX, while the top decliners included SHSML, SANSM, SHDT, POML, and GOC.

Read next: Oil prices flat as Trump signals boost in production