Share prices boom lifting PSX index to all-time high over 156,000 mark

Share prices were skyrocketing as the Pakistan Stock Exchange (PSX) witnessed robust buying on Monday, the opening day of the new business week, smashing through 156,000 mark, amid positive economic indicators, reported 24NewsHD TV channel.

At the end of the day, the PSX’s benchmark KSE-100 index gained 1,810.11 points or 1.16 percent to reach an all-time high of 156,087.30 points.

Today’s gains marked the seventh consecutive bullish day as investors have placed trust in the government's policies.

The upward trajectory has offset the concerns over risk to the national economy due to the ongoing devastating floods that have damaged farmlands.

As many as 482 companies have transacted their shares in the stock market today, with 229 of them gaining and 228 sustaining losing, whereas the share prices of 25 companies remained unchanged.

Earlier on Friday, the index had continued with a bullish trend, gaining 1,611.47 points, a positive change of 1.06 percent, closing at 154,277.19 points.

A total of 1,078,410,471 shares were traded during the day as compared to 954,327,333 shares the previous trading day, whereas the price of shares stood at Rs59.949 billion against Rs46.053 billion on the last trading day.

As many as 479 companies transacted their shares in the stock market, 239 of them recorded gains and 210 sustained losses, whereas the share price of 30 companies remained unchanged.

The three top trading companies were Bank of Punjab with 146,093,956 shares at Rs 19.69 per share, F. Nat. Equities with 55,753,605 shares at Rs7.74 per share and Fauji Foods Limited with 50,935,429 shares at Rs18.72 per share.

Sitara Chemical Industries Limited witnessed a maximum increase of Rs 79.77 per share price, closing at Rs 877.47, whereas the runner-up was Siemens (Pakistan) Engineering with Rs50.17 rise in its per share price to Rs1,603.17.

PIA Holding Company LimitedB witnessed a maximum decrease of Rs 834.67 per share, closing at Rs25,506.00 followed by Hoechst Pakistan Limited with Rs96.79 decline in its share price to close at Rs4,004.48.

Meanwhile, in the future market, as many as 316 companies traded shares in the market out of which 181 witnessed gains, 133 loss where the prices of 2 companies remained unchanged.

Reporter: Kavish Memon