PSX smashes records as KSE-100 breaches 94,000 mark

KARACHI: The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) touched an all-time high as it breached the 94,000 mark on Thursday, ARY News reported.

The KSE-100 index gained 836.47 points, or 0.9 percent to settle at 94,191.89 points at the closing of the stock market, as against the previous day’s closing of 93,355.43 points.

A total of 1.08 billion shares were traded during the day at the PSX, as compared with 807.06 million shares the previous trading day.

The price of shares stood at Rs32.68 billion as against Rs31.68 billion on the last trading day at the stock market.

Analysts at Topline Securities attributed the positive trend at the Pakistan Stock Exchange to growing economic optimism, fueled by reports that the International Monetary Fund (IMF) expressed no concerns over Pakistan’s progress in meeting revenue collection targets.

“Fears of an imminent mini-budget and new taxation measures have eased. As per news report OGDC (2.51%) from the E&P sector, cash collection ratio rose to 121% in 1QFY25, with management expecting this trend to continue as the IMF programme may prompt timely gas price adjustments to meet Sui companies’ revenue needs,” they said.

“The KSE-100 index was boosted by positive contributions from UBL, OGDC, HBL, MVB, and TRG, which collectively added 455 points to the index,” as per the analysts.

WorldCall Telecom remained the volume leader with 177.39 million shares, followed by Hascol Petrol which saw 59.22 million shares exchanged while Treet Battery Ltd remained the third with 47.94 million shares at the PSX.

As many as 465 scrips were active at the stock market, out of which, 262 registered an increase, 147 recorded a decline, while 56 stocks remained unchanged.