PSX hits new milestone, KSE-100 jumps 2051 points to cross 145,000 mark

KARACHI: The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index sustained its bullish charge on Wednesday, gaining 2,051.33 more points, a positive of 1.43 percent, hitting new mile stone by reaching 145,088.50 points against 143,037.17 points last trading day.

Analysts at Topline Securities Ltd. attributed the surge to the Banking sector, stating that the banking stocks remained the star performers as HBL, NBP, MEBL, and UBL collectively contributed 1,017 points to the benchmark. HBL and NBP hit their upper circuits during intraday trade, although mild profit-taking toward the close trimmed some gains.

Investor participation remained robust, with traded volume climbing to 788 million shares during the day as compared to 549 million shares the previous trading day, whereas the turnover rising to Rs52.7 billion against Rs37 billion on the last trading day.

As many as 484 companies transacted their shares in the stock market, 264 of them recorded gains and 192 sustained losses, whereas the share price of 28 companies remained unchanged.

BOP topped the volume chart with 67 million shares exchanged at Rs14.24, followed by National Bank XD with 49 million shares at Rs139.22 per share and First Dawood Prop with 44 million shares at Rs 7.04 per share.

PIA Holding Company Limited witnessed a maximum increase of Rs 1,419.87 per share price, closing at Rs 30,935.90, whereas the runner-up was Nestle Pakistan Limited with Rs869.83 rise in its per share price to Rs 9,568.15.

Unilever Pakistan Foods Limited witnessed a maximum decrease of Rs321.66 per share closing at Rs 33,092.14 followed by Ismail Industries Limited with Rs49.04 decline in its share price to close at Rs2,130.99.