Pakistan Stock Exchange hits 6-year high, surpasses 52,000 points

Pakistan Stock Exchange

KARACHI: On Wednesday, the KSE-100 index of the Pakistan Stock Exchange showed strong performance by gaining over 400 points, reaching a level of 52,350 points, the highest in six years.

This increase in the index reflects growing confidence among investors. The last time it crossed the 52,000 mark was in 2017 during the PML-N’s administration.

The total trading volume for the KSE-100 Index was 258.24 million shares. Out of the 100 companies listed in the index, 63 saw an increase in their stock prices, 24 saw a decrease, and 13 remained unchanged.

Pakistan Stock Market Closing - November 1
Pakistan Stock Market Closing – November 1

The sectors that contributed the most to the positive movement of the KSE-100 index were power generation and distribution, commercial banks, cement, textile composites, and oil and gas exploration companies.

Read more: Pakistani rupee’s losing streak: PKR drops to Rs282.65 versus dollar

Companies like HUBC, POL, ILP, HBL, and SYS played a significant role in boosting the index.

On the other hand, the fertiliser, miscellaneous, refinery, transport, and automobile parts and accessories sectors had a negative impact on the index. Companies such as ENGRO, PSEL, SHEL, UBL, and KEL were responsible for the index’s decline.

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