PSX hits record high amid reports of US investment in energy sector

KARACHI: The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index continued with bullish trend on Monday, gaining 1,547.05 more points, a positive of 1.06 percent, closing record high at 146,929.84 points against 145,382.80 points last trading day.

Analysts at Topline Securities Ltd. stated that the sentiment surged after reports of US firms gearing up to invest in Pakistan’s energy sector, further reinforced by better-than-expected corporate results that added to the market’s upbeat tone.

A total of 611 million shares were traded during the day as compared to 548 million shares the previous trading day, whereas the price of shares stood at Rs 44.004 billion against Rs 45.488 billion on the last trading day.

As many as 479 companies transacted their shares in the stock market, 242 of them recorded gains and 209 sustained losses, whereas the share price of 28 companies remained unchanged.

The three top trading companies were Lotte Chemical with 73 million shares at Rs 21.80 per share, Siddiqsons Tin with 21 million shares at Rs7.55 per share and Invest Bank with 19 million shares at Rs 8.68 per share.

Mari Energies Limited witnessed a maximum increase of Rs 47.52 per share price, closing at Rs 666.05, whereas the runner-up was Thal Limited with Rs45.53 rise in its per share price to Rs 500.78. Unilever Paksitan Foods Limited witnessed a maximum decrease of Rs906.49 per share closing at Rs 32,100.01 followed by PIA Holding Company LimitedB with Rs536.51 decline in its share price to close at Rs28,843.15.