The Pakistan Stock Exchange (PSX) started the day with a positive trend as investors showed interest in buying due to some improved economic indicators, reported 24NewsHD TV channel on Wednesday.
During the opening session, the KSE-100 Index gained 484.63 points or 0.36 percent to reach 136,424.50 points.
Broad-based buying was noted across key sectors, including automobile assemblers, commercial banks, oil and gas exploration firms, oil marketing companies, power generation, and refineries.
At the end of the trading session of the day, KSE-100 index gains 440.09 points to reach 136379.98 points.
Earlier on Tuesday, after reaching an unprecedented peak above 137,500 in intraday trade on Tuesday, the Pakistan Stock Exchange (PSX) suffered losses as investors opted to take profits towards the end of the session, forcing the benchmark KSE-100 index to close in the red.
The PSX benchmark index closed at 135,939.87 points, down 562.66 points, or 0.41%, from the previous close of 136,502.76.
The day began on a strong note, carrying forward Monday's bullish momentum as the index surged to an intraday high of 137,747.60, breaching the psychological barriers of 137,000. However, profit-taking in the latter half of the session erased early gains, dragging the index back into negative territory.
The equity market rally is driven by a surge in workers' remittances, robust auto sales, and improved foreign exchange reserves.
A total of 879,118,158 shares were traded during the day as compared to 841,456,115 shares the previous trading day, whereas the price of shares stood at Rs 38.608 billion against Rs 37.051 billion on the last trading day.
As many as 478 companies transacted their shares in the stock market, 110 of them recorded gains and 345 sustained losses, whereas the share price of 23 companies remained unchanged.
The three top trading companies were Bank of Punjab with 61,318,327 shares at Rs 13.13 per share, K-Electric Limited with 56,728,152 shares at Rs5.27 per share and Trust Modaraba with 44,591,951 shares at Rs 7.72 per share.
PIA Holding Company Limited witnessed a maximum increase of Rs 2,876.82 per share price, closing at Rs 31,645.05, whereas the runner-up was Unilever Pakistan Foods Limited with Rs 460.68 rise in its per share price to Rs 23,796.18.
Hoechst Pakistan Limited witnessed a maximum decrease of Rs106.27 per share closing at Rs 3,145.00 followed by Atlas Honda Limited with Rs46.47 decline in its share price to close at Rs1,095.57.
Reporter: Kawish Memon