PSX closes up as KSE-100 adds 130 points

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

The KSE-100 added 130.86 points, or 0.14 percent, to settle at 93,355.43 points at the closing of the market, as against the previous day’s closing of 93,224.56 points.

The trading volume reached 807.06 million shares at the PSX, as against the previous day’s turnover of 792.9 million.

The price of shared stocks reached Rs31.68 billion at the stock market, as against Rs30.78 billion the previous day.

Analysts at Topline Securities said that the stock market exhibited a consolidation phase, with the KSE-100 reaching a peak of 93,804 and dipping to a low of 92,943 during midday trading.

“Notable, consistent buying by local mutual funds supported the market in the recent rally. The KSE-100 was boosted by positive contributions from MARI, LUCK, SEARL, ENGRO, and POL, which collectively added 461 points. Conversely, OGDC, FFC, and MEBL experienced some profit-taking, resulting in a combined loss of 213 points to the index,” they added.

As many as 450 scrips were active at the Pakistan Stock Exchange, out of which, 196 witnessed an increase, 191 declined, while the share price of 63 stocks remained unchanged.

Rafhan Maize Products Company Limited was the top gainer, having increased by Rs64.96 to close at Rs7,601, followed by Philip Morris (Pakistan) Limited which witnessed a gain of Rs38.17 to reach Rs827.67 at the closing of the stock market.

On the flip side, Unilever Pakistan Foods Limited shed Rs221.8 to settle at Rs18,858.09 while Mehmood Textile Mills Limited declined by Rs45.57 to hit Rs501.58 at the closing of the stock market.