PSX breaches 98,000 mark as KSE-100 adds 281 points

KARACHI: The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) hit an all-time high at the closing of the market on Monday, ARY News reported.

The KSE-100 gained 281.55 points, or 0.29 percent to settle at 98,079.78 points as compared to 97,798.23 points during the previous session.

A total of 640.25 million shares were traded during the day, as against the turnover of 1.24 billion during the previous trading day at the PSX.

The price of shares stood at Rs25.623 billion, from the previous session’s Rs45.475 billion.

Analysts at Topline Securities said that investors’ confidence was driven by speculation that the State Bank of Pakistan (SBP) may offer relaxation to banks regarding minimum deposit rates for savers.

“Key contributors to the KSE-100 index’s rise included BAHL, UBL, MEBL, SYS, and MCB, which collectively added 555 points to the index,” they added.

A total of 460 scrips were active at the Pakistan Stock Exchange, out of which, 220 recorded gains and 185 sustained losses, while the share price of 55 companies remained unchanged.

The three top trading companies at the PSX were Hascol Petrol with 64.82 million shares at Rs12.35 per share, followed by Cnergyico PK with 48.06 million shares at Rs4.71 per share while Fauji Foods Limited remained third with 40.91 million shares at Rs12.26 per share.

Unilever Pakistan Foods Limited witnessed an increase of Rs117.14 per share price, closing at Rs19,132.14, followed by Pakistan Services Limited with Rs46.11 rise in its per share price to Rs941.47.

PIA Holding Company LimitedB remained the top loser with a decline of Rs95.96 per share closing at Rs902.28 followed by Rafhan Maize Products Company Limited with Rs59.95 decline to close at Rs7,954.55.