A robust buying of stocks in first session of the week at Pakistan Stock Exchange (PSX) on Monday tossed the index over all-time high of 133,000 points amid a wave of new fiscal year optimism, reported the 24NewsHD TV channel.
During the opening session of trading, the PSX’s benchmark KSE-100 index soared by 1,308.38 points or 0.98 percent to reach 133,094.90 points, a historic mark. At the end of the day, the indix surged by 1,421.08 points or 1.07 percent to 133,370.14 points.
Experts believed the bullish trend reflected growing confidence in the country's improving economic outlook.
Meanwhile, the government has expressed its determination to elevate Pakistan’s economy to the $1 trillion mark by 2035.
In another positive development, the country’s foreign exchange reserves have surpassed the target set by the International Monetary Fund (IMF).
Signs of economic recovery are further evident in the 7% increase in the sale of petroleum products across the country, indicating rising consumer confidence and growing economic activity.
Earlier on Friday, the KSE-100 Index had gained 1,262.41 points, closing at 131,949.07 points. A total of 733,079,943 shares were traded during the day, whereas the price of shares stood at Rs34.924 billion against Rs43.252 billion on the last trading day.
As many as 473 companies transacted their shares in the stock market, 255 of them recorded gains and 177 sustained losses, whereas the share price of 41 companies remained unchanged.
The three top trading companies were WorldCall Telecom with 58,256,083 shares at Rs 1.55 per share, Bank Makramah with 35,806,875 shares at Rs5.12 per share and Treet Corporation with 29,716,643 shares at Rs23.93 per share.
PIA Holding Company Limited witnessed a maximum increase of Rs2,151.83 per share closing at Rs 23,670.14, whereas runner-up was Unilever Pakistan Foods Limited with Rs46.99 rise in its share price to close at Rs23,646.99.
Bhanero Textile Mills Limited witnessed a maximum decrease of Rs32.82 per share price, closing at Rs887.69, whereas the runner-up was Supernet Technologies Limited with Rs 23.40 decline in its per share price to Rs801.89.
Reporter: Kawish Memon