PSX closes in green as KSE-100 gains over 700 points

WEB DESK: Pakistan’s stock market continued its upward trend on Monday, as the KSE-100 index surged by 713.61 points, marking a significant increase of 0.98 per cent to close at 73,799.11 in the first trading session of the week.

Throughout the day, the index demonstrated positive momentum, reaching an intraday high of 74,114.23 points, representing a gain of 1,028.73 points, while the low stood at 73,109.76 points, with a marginal increase of 24.26 points.

The trading session witnessed a total volume of 308.96 million shares for the KSE-100 index. Among the 100 index companies, 66 ended the day with gains, 29 faced losses, 4 remained unchanged, and 1 remained untraded.

The bullish performance of the KSE-100 index was primarily supported by sectors such as Oil & Gas Exploration Companies, Commercial Banks, Investment Banks/Companies/Securities Companies, Leather & Tanneries, and Pharmaceuticals.

Conversely, sectors including Cable & Electrical Goods, Cement, Insurance, Property, and Transport exerted downward pressure on the index.

Noteworthy contributors to the index’s gains were companies like Pakistan Oilfields Limited (POL), Dawood Hercules Corporation Limited (DAWH), Engro Corporation Limited (ENGRO), Service Industries Limited (SRVI), and Pakistan Petroleum Limited (PPL).

On the other hand, companies such as Fauji Fertilizer Company (FFC), Pakistan Electric Limited (PAEL), Pakistan Oilfields Limited (PIOC), Fauji Fertilizer Bin Qasim Limited (FFBL), and K-Electric Limited (KEL) were among those that pulled the index lower.

In the broader market, the All-Share index closed at 47,934.88, marking a net gain of 388.34 points. The total market volume reached 721.60 million shares, slightly lower than the previous session’s volume of 741.20 million shares.

However, the traded value recorded a notable increase, reaching Rs25.65 billion, up by Rs377.22 million.

Trading activity saw 297,017 transactions involving 385 companies, with 240 companies closing with gains, 119 with losses, and 26 remaining unchanged.

It is important to highlight the remarkable performance of the KSE-100 index, which has seen a remarkable gain of 32,346 points or 78.03 per cent during the fiscal year.

Moreover, the ongoing calendar year has witnessed a cumulative increase of 11,348 points, equivalent to 18.17 per cent, reflecting the resilience and strength of Pakistan’s stock market amid various economic dynamics.

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