PSX closes at new record high with 684-point gain

KARACHI: The Pakistan Stock Exchange (PSX) saw a significant boost on Thursday, with the benchmark KSE-100 Index surging by 684.26 points, or 0.84 per cent, to close at an unprecedented high of 81,839.86.

The index maintained a positive trajectory throughout the trading session, reaching an intraday high of 81,909.94 points and a low of 81,418.11 points.

The trading volume for the KSE-100 Index was robust, with 238.79 million shares exchanged.

This performance follows Monday’s impressive gain of 1,211 points, or 1.5 per cent, which brought the index to a then-record high of 81,155.6, buoyed by Pakistan securing a $7 billion loan deal from the International Monetary Fund over the weekend.

The market was closed on Tuesday and Wednesday in observance of Ashura holidays.

Out of the 100 companies listed on the index, 65 saw their stock prices increase, 32 experienced declines, and 3 remained unchanged.

The top performers included AVN (+9.51 per cent), THALL (+7.17 per cent), PAEL (+5.41 per cent), PTC (+5.30 per cent), and JVDC (+4.97 per cent). Conversely, the biggest losers were PAKT (-6.88 per cent), PKGP (-5.53 per cent), SCBPL (-5.27 per cent), DCR (-2.31 per cent), and AKBL (-2.19 per cent).

In terms of contributions to the index’s rise, notable companies were ENGRO (+120.27 points), UBL (+106.31 points), OGDC (+82.15 points), MTL (+58.66 points), and MEBL (+55.60 points). Companies that negatively impacted the index included PAKT (-27.93 points), BAHL (-27.49 points), PKGP (-24.54 points), HMB (-23.57 points), and SCBPL (-21.38 points).

Sector-wise, the KSE-100 Index received strong support from Fertilizer (+170.71 points), Oil & Gas Exploration Companies (+159.34 points), Commercial Banks (+109.30 points), Technology & Communication (+90.52 points), and Automobile Assembler (+66.38 points).

Sectors that weighed down the index were Power Generation & Distribution (-46.71 points), Tobacco (-27.93 points), Pharmaceuticals (-15.60 points), Real Estate Investment Trust (-6.73 points), and Insurance (-4.37 points).

In the broader market, the All-Share Index closed at 51,773.28, marking a gain of 299.38 points, or 0.58 per cent. The total market volume increased to 470.31 million shares from the previous session’s 441.34 million shares.

However, the traded value decreased by Rs1.88 billion to Rs25.35 billion. A total of 289,235 trades were reported across 456 companies, with 241 closing up, 155 closing down, and 60 remaining unchanged.

This continued rally in the Pakistan stock market reflects growing investor confidence following the IMF loan agreement, coupled with positive movements in key sectors.

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