PSX hits record high, closes with 732-point gain

KARACHI: In a remarkable surge, Pakistan Stock Exchange’s (PSX) key benchmark KSE-100 index ascended by 732.08 points or 0.99 per cent, culminating Tuesday’s trading session at an unprecedented pinnacle of 74,531.19.

Throughout the trading day, the index exhibited unwavering positivity, hitting an intraday zenith of 74,575.31, marking a gain of 776.19 points, while its nadir settled at 73,977.01, with a marginal dip of 177.9 points.

The trading session witnessed an impressive turnover, with the total volume of the KSE-100 index reaching 257.37 million shares.

Of the 100 index companies, 59 concluded the session on an upward trajectory, 36 experienced a downturn, while 5 remained unchanged.

The buoyancy of the KSE-100 index was underpinned by robust performances across various sectors, notably Commercial Banks (276.76pts), Oil & Gas Exploration Companies (235.61pts), Fertilizer (152.21pts), Cement (45.82pts), and Automobile Parts & Accessories (31.98pts).

However, certain sectors contributed to the index’s downward trajectory, including Technology & Communication (13.42pts), Textile Composite (13.37pts), Food & Personal Care Products (12.97pts), Miscellaneous (11.48pts), and Chemical (6.33pts).

Among the companies bolstering the index were EFERT (121.44pts), OGDC (94.25pts), MEBL (85.23pts), MCB (63.63pts), and MARI (62.57pts).

Conversely, companies exerting a drag on the index included TRG (12.64pts), DAWH (10.94pts), ILP (8.21pts), PSEL (7.22pts), and NESTLE (6.81pts).

This latest surge underscores the resilience and vibrancy of Pakistan’s stock market, reflecting investor confidence amidst evolving economic dynamics both domestically and globally.

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