The Pakistan Stock Exchange’s benchmark index shattered all previous records on Tuesday by breaking the 95,000 points barrier, following the International Monetary Fund mission’s visit to the country for the bailout package.
According to the PSX website, the KSE-100 Index gained 861.00 points, a positive change of 0.91 per cent, and closed at an all-time high at 95,856.67 points as compared to 94,995.67 points on the last trading day.
“The KSE-100 index demonstrated exceptional bullish momentum, soaring to an all-time high of 96,036,” the Topline Securities said in a statement.
“The market opened on a positive note, buoyed by expectations of the Consumer Price Index falling within the 4.5% to 5.0% YoY range. Notably, this marks the first time in 78 months that inflation is anticipated to drop below 5%. The index eventually settled at 95,856, posting an impressive gain of 860 points or 0.91%.”
A total of 830,931,008 shares were traded during the day as compared to 765,206,618 shares the previous trading day, whereas the price of shares stood at Rs30.019 billion against Rs23.924 billion on the last trading day.
As many as 460 companies transacted their shares in the stock market, 249 of them recorded gains and 156 sustained losses, whereas the share price of 55 companies remained unchanged.
The three top trading companies were Hascol Petrol with 60,058,856 shares at Rs10.24 per share, K-Electric Limited with 44,488,839 shares at Rs5.24 per share and Cnergyico PK with 42,303,494 shares at Rs4.64 per share.
Also, read this
Dollar rate should further decrease, says ECAP General Secretary Zafar Paracha
Stock market rallies as IMF praises Pakistan’s improved tax-to-GDP ratio
PSX sustains bullish momentum as investor optimism grows over anticipated rate cuts
Rafhan Maize Products Company Limited witnessed a maximum increase of Rs.120.10 per share price, closing at Rs8,004.60 whereas the runner-up was Abbott Laboratories (Pakistan) Limited with Rs70.20 rise in its per share price to Rs1,070.86.
PIA Holding Company Limited B saw a maximum decrease of Rs59.37 per share closing at Rs840.61 followed by Unilever Pakistan Foods Limited with Rs32.50 decline to close at Rs19,117.50.
(With input from APP)
