KSE-100 up by 3,134 to soars past 108,000 mark

KARACHI: The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) maintained its bullish run as it closed above the 108,000 mark on Thursday, ARY News reported.

KSE-100 added 3,134.63 points, or 2.98 percent to close at 108,238.97 points, as compared with the closing of 105,104.34 points on the last trading day at the stock market.

A total of 1.64 billion shares were traded during the day at the PSX, from the previous day’s turnover of 1.74 billion.

The price of shares stood at Rs63.22 billion, as against Rs50.41 billion on the last trading day at the stock market.

Analysts at Topline Securities said that the Pakistan Stock Exchange witnessed another exhilarating trading session as the bullish momentum continued unabated.

“The benchmark KSE-100 index surged to an intraday high of 3,241 points, fuelled by heightened investor confidence and robust market sentiment surrounding expectations of a substantial rate cut in the upcoming monetary policy meeting, scheduled for December 16, 2024,” they added.

As many as 473 scrips were active in the Pakistan Stock Exchange, out of which 307 recorded gains and 129 sustained losses while the share price of 37 companies remained unchanged.

Bank of Punjab remained the top trading company with 163.46 million shares at Rs10.09 per share, followed by WorldCall Telecom with 150.47 million shares at Rs1.59 per share.

Cnergyico PK remained the third with 86.65 million shares at Rs.6.87 per share at the closing of the PSX.

Unilever Pakistan Foods Limited was the top gain, having increased byRs481.08 per share price, closing at Rs20,681.08, followed by Sapphire Fibres Limited with Rs101.64 rise in its per share price to Rs1,214.02.

On the flip side, Hafiz Limited recorded a decline of Rs24.27 per share closing at Rs238.23, followed by Fateh Sports Wear Limited with Rs11.2 decline to close at Rs100.77.