KSE-100 continues bullish trend as PSX closes at record high

KARACHI: The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) touched a fresh all-time high at the closing of the market on Monday.

The KSE-100 gained 356.64 points, or 0.38 percent to settle at 93,648.33 points at the closing of the stock market, as against the previous closing of 93,291.68 points.

A total of 815.18 million shares were traded during the day as compared to the turnover of 763.25 million the previous trading day at the PSX.

The price of shares stood at Rs37.32 billion as compared with Rs30.2 billion on the last trading day at the stock market.

Analysts at Topline Securities said that the KSE-100 Index showed positive momentum, with the index reaching a peak of 94,020 and dipping to a low of 93,319, as investors took a directional stance, driven by lower valuations in the pharma sector.

“The index was lifted by positive contributions from OGDC, PPL, ABOT, SEARL, and GLAXO, which collectively added 399 points,” they added.

As many as 454 scrips remained active at the Pakistan Stock Exchange, out of which, 227 recorded gains and 184 decline, while the share price of 43 companies remained unchanged.

The three top trading companies included Cnergyico PK with 98.6 million shares at Rs4.52 per share, Pak Elektron with 78.09 million shares at Rs29.01 per share and K-Electric Limited with 70.18 million shares at Rs4.98 per share.

Rafhan Maixze Products Company Limited witnessed an increase of Rs211.95 per share price, closing at Rs7,522, followed by Abbott Laboratories (Pakistan) Limited with Rs87.42 rise in its per share price to Rs984.72.

On the flip side, Ismail Industries Limited witnessed a decline of Rs87.46 per share closing at Rs1,515.54 followed by Sapphire Fibres Limited with Rs60.29 decline to close at Rs1,129.08.