Pakistan Stock Exchange closes all-time high

Share prices at Pakistan Stock Exchange (PSX) surged on Tuesday pushing the index to top 120,000 points, a historic mark, as investors tracked developments related to the upcoming federal budget, reported 24NewsHD TV.

At the close of business, the PSX’s benchmark KSE-100 Index gained massive 1,573.07 points or 1.31% to 120,450.87 points, a historic high mark.

Economic experts said that the surge reflected strong investor confidence and bullish market sentiment, marking a significant achievement in Pakistan’s financial sector.

Earlier on Monday, PSX began the day on a positive note but lost shine later in the day and closed in the negative zone. The KSE-100 index gained 622.61 points, tossing it above 120,200 psychological barrier with a positive change of 0.52%. Later in the day, the index dipped to 118,877 losing 813 points.

As many as 464 companies transacted their shares in the stock market, 193 of them recorded gains and 231 sustained losses, whereas the share price of 40 companies remained unchanged.

The three top trading companies were Dewan Cement with 40,375,547 shares at Rs 12.67 per share, Invest Bank with 31,862,508 shares at Rs 2.31 per share and K-Electric Limited with 30,881,459 shares at Rs 5.09 per share.

PIA Holding Company Limited witnessed a maximum increase of Rs 2,937.45 per share closing at Rs32,311.99 whereas runner-up was Khyber Textile Mills Limited with Rs 279.07 rise in its share price to close at Rs 3,069.78.

Reporter: Kawish Memon