PSX continues gaining momentum, KSE-100 adds 574.11 points

KARACHI: The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed on a positive note on Tuesday, ARY News reported.

The KSE-100 added 574.11 points, or 0.50 percent to settle at 114,804.17 points at the closing of the stock market, compared with the previous closing of 114,230.06 points.

A total of 589.5 million shares were traded during the day at the PSX, from the previous day’s turnover of 521.2 million.

The price of shares stood at Rs32.585 billion as against Rs28.28 billion on the last trading day.

As many as 463 scrips were active in the stock market, out of which, 269 recorded gains and 137 sustained losses while the share price of 57 companies remained unchanged.

Cnergyico PK remained the top-trading company with 42.53 million shares at Rs7.21 per share, followed by Pak Refinery with 38.06 million shares at Rs41.50 per share.

K-Electric Ltd. was the third with 33.44 million shares to settle at Rs5 per share at the closing of the PSX.

Hallmark Company Limited was the top gainer with an increase of Rs84.54 per share price to close at Rs950.05 followed by Philip Morris (Pakistan) Limited with Rs70.90 rise in its per share price to Rs789.76.

Nestle Pakistan Limited recorded a decrease of Rs58.04 per share closing at Rs7,435 followed by Pakistan Engineering Company Limited with Rs56.55 decline to close at Rs600.

Meanwhile, Finance Minister Muhammad Aurangzeb has said Pakistan plans to launch Panda bonds by June 2025.

The decision aimed to pay off external debts and improve Pakistan’s credit rating.

During an interview with the South China Morning Post, Aurangzeb highlighted the importance of Chinese investment in ensuring Pakistan’s economic stability.

“Pakistan is aiming to issue Panda Bonds by June, targeting the collection of $200–250 million from Chinese investors. Discussions are underway with the Asian Infrastructure Investment Bank (AIIB) for guarantees.”

The finance minister said that the government is determined to upgrade its credit rating to single B in the coming months.