KSE-100 gains over 3,000 points to cross 114,000 mark

KARACHI: The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) maintained its bullish momentum as it closed in a green zone on Thursday, ARY News reported.

The KS-100 index gained 3,370.29 points, or 3.04 percent to settle at 114,180.51 points, from 110,810.22 points on the last trading day at the stock market.

A total of 1.46 billion shares were traded during the day at the PSX, as compared with the turnover of 1.08 billion the previous trading day.

The price of shares stood at Rs67.278 billion, as against Rs47.139 billion on the last trading day at the Pakistan Stock Exchange.

Analysts at Topline Securities attributed the improved sentiments to a significant decline in T-bill auction yields.

“This development fuelled aggressive buying across the board, driving the market to new heights. The KSE-100 index opened on a strong note, marking an intraday high of +3,598 points before closing at 114,180, gaining 3,370 points (+3.04%) by the end of the session,” they said.

According to analysts, the PSX saw buying in blue-chip and growth stocks in key sectors like fertilizer, E&Ps, and technology.

“Top contributors to the index’s rise included FFC, MARI, PPL, PSO, ENGRO, and OGDC, collectively adding 2,028 points to the benchmark index,” as per the analysts.

As many as 464 scrips were active in the stock market, out of which 299 recorded gains and 132 sustained losses while the share price of 33 companies remained unchanged.

The three top trading companies were WorldCall Telecom 232.92 million shares at Rs1.79 per share, Cnergyico PK with 80.18 million shares at Rs7.21 per share and Pak International Bulk with 70.68 million shares at Rs9.07 per share.

Nestle Pakistan Limited recorded a gain of Rs199.92 per share price, closing at Rs7,355.19, followed by RAfhan Maize Products Company Limited with Rs149.12 increase in its per share price to Rs8,750.

Macter International Limited witnessed a decline of Rs30.16 per share closing at Rs424.69, followed by Hallmark Company Limited with Rs24.24 decline to close at Rs800.53.