Pakistan Stock Exchange closes at new all-time high of 60,730 points

crosses 1,000 points

WEB DESK: In a groundbreaking achievement, the primary indicator of the Pakistan Stock Exchange (PSX) reached an unprecedented milestone today by closing above the 60,000-point threshold for the first time in its history.

The KSE-100 index concluded today’s trading session at 60,730.26, registering a notable daily gain of 918.92 points, or 1.54 per cent.

Throughout the day, the index maintained a positive trajectory, reaching an intraday high of 60,845.61 (+1,034.26) and a low of 60,023.86 (+212.51) points. The total volume of the KSE-100 Index amounted to 336.6 million shares.

This significant surge is attributed to several positive factors, including anticipated inflows from the International Monetary Fund (IMF) and friendly nations, the potential reduction in the interest rate, and the improved political landscape of Pakistan.

Today’s optimism is further fueled by the recent development where Pakistan entered into a multi-billion-dollar Memorandum of Understanding (MoU) with the United Arab Emirates (UAE).

Analysts believe that the market’s bullish momentum is a result of favourable economic reforms, government initiatives fostering business growth, and a stable investment climate.

Karachi Stock Exchange market summary

In today’s session, among the 100 index companies, 48 closed higher, 33 closed lower, 2 remained unchanged, and 17 were not traded.

The KSE-100 index received support from various sectors, with commercial banks contributing 536.46 points, followed by cement with 108.87, power generation and distribution with 93.09, fertiliser with 59.12, and refinery with 43.99 points.

Leading the point contributors were UBL with 191.44, MCB with 109.07, HBL with 101.79, HUBC with 97.08, and LUCK with 89.05 points.

Conversely, Technology & Communication, Glass & Ceramics, Paper & Board, Food & Personal Care Products, and Automobile Parts & Accessories deducted points from the index.

Companies like SYS, MARI, GHGL, DAWH, and NATF were the main contributors to the index decline.

In the broader market, the All-Share index concluded at 40,401.05, witnessing a net gain of 453.95 points.

The total market volume reached 779.671 million shares, an increase from the previous session, while the traded value amounted to Rs26.14 billion, showing a significant rise of Rs5.87 billion.

A total of 265,115 trades were reported in 389 companies, with 175 closing higher, 199 closing lower, and 15 remaining unchanged.

KOSM continued to lead in volume charts following its recent announcement of a strategic partnership with a UAE firm to establish a raw and value-added mineral-based business in Pakistan.

It’s worth noting that during the fiscal year, the KSE-100 has gained 19,278 points, marking a growth of 46.51 per cent, and in the ongoing calendar year, there has been a cumulative increase of 20,310 points, equivalent to a remarkable 50.25 per cent in the KSE-100.

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