Pakistan Stock Exchange crosses 169,000-mark
The Pakistan Stock Exchange (PSX) on Friday stormed ahead with its robust bull-run, trampling the 169,000-mark barrier for the first time in its history as economic and geopolitical developments continued to boost investors’ confidence, reported 24NewsHD TV channel.
The market surged by 1,499 points during trading and briefly approached the 170,000 mark before closing slightly lower due to selling pressure in the final session.
The PSX witnessed selling pressure in the last closing hour. The KSE-100 Index ended the day at 168,990 points after rising 500 points, setting a new closing record. The Ready Market also recorded its highest-ever single-day trading volume, with 1.57 billion shares worth Rs79 billion changing hands.
Market experts said this surge was fueled by active buying from mutual funds, insurance companies, and high-net-worth investors, reflecting growing confidence in the market’s performance. Despite the rally, the market witnessed selling pressure in the final hour of trading, trimming some of the intraday gains. However, the strong finish just below the historic 170,000 mark reinforced expectations that the index could soon cross the milestone in upcoming sessions. Investors witnessed a strong buying wave that lifted the market to an all-time high.
Earlier, at 9:42am, PSX’s benchmark KSE-100 Index recorded a gain of 1,107.51 points, or 0.65 percent, to reach 169,597.13 points, a historic high.
In total, 407 companies traded their shares so far, of which 244 recorded gains, 143 lost value, and 20 remained unchanged.
Analysts opined that liquidity from mutual funds was driving up the index. There was FOMO (fear of missing out) and disbelief of a correction, they added. They maintained economic sentiment is positive after improving US ties also. Mid-caps with growth triggers are beginning to rerate, they added.
On Thursday, the Pakistan Stock Exchange (PSX) continued with bullish trend, as the benchmark KSE-100 index gained 2,849.29 points, showing a positive change of 1.72 percent, closing at 168,489.63 points.
A total of 1,573,381,774 shares were traded during the day compared to 1,639,021,153 shares the previous day, whereas the share value stood at Rs 70.19 billion against Rs 69.66 billion on the last trading day. The three top-trading companies were Bank of Punjab with 148,116,348 shares at Rs 32.78 per share, WorldCall Telecom with 133,874,930 shares at Rs 1.82 per share, and K-Electric Ltd. with 115,986,210 shares at Rs 7.22 per share.
Unilever Pakistan Foods Limited witnessed a maximum increase of Rs 699.33 per share, closing at Rs 31,964.33, followed by Supernet Technologies Limited which rose by Rs 62.08 to close at Rs 1,556.41.
On the other hand, PIA Holding Company LimitedB recorded a maximum decrease of Rs 573.97 per share to close at Rs 25,026.03, followed by Rafhan Maize Products Company Limited which declined by Rs 111.26 to close at Rs 9,898.70.
Reporter: Kawish Memon