PSX smashes through 146,000-point mark

Buying spree continued unhindered at the Pakistan Stock Exchange (PSX), triggered by a strong economic outlook and robust corporate earnings, with the benchmark KSE-100 Index gaining over 500 points on Thursday, reported 24NewsHD TV channel.

At noon, the PSX’s benchmark index was hovering at 146,015.50 level, an increase of 927 points or 0.60%. But at the end of the day, the index settled at 558.64 points or 0.38 percent to 145,647.13 points.

Of the total 483 companies traded today, share prices of 221 companies went up, 238 went down while 27 remained unchanged.

Buying interest was observed in key sectors including oil and gas exploration companies, OMCs, power generation and refinery. Index-heavy stocks, including ARL, HUBCO, MARI, OGDC, PSO, PPL traded in the green.

On Wednesday, the PSX had sustained its record-breaking rally as the benchmark KSE-100 Index soared by 2,051 points, or 1.43%, to settle at an all-time closing high of 145,088.50 points.

In a statement from the Prime Minister’s Office, PM Shehbaz Sharif expressed satisfaction as the stock exchange index surpassed the 145,000-point mark, signalling increased investor confidence in government policies.

PM attributed the surge in stock market activity to business-friendly reforms and said providing support for investment remains a top priority for his administration.

 
Reporter Kavish Memon