PSX closes above 100,000 mark in record-breaking session

KARACHI: The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) on Thursday scripted history as it closed above the 100,000 mark, ARY News reported.

The KSE-100 index gained 813.52 points, or 0.82 percent to close an all-time high of 100,082.77 points, from the previous day’s closing of 99,269.25 points.

A total of 1.16 billion shares were traded during the day at the PSX, compared with the turnover of 1.05 billion the previous trading day at the stock market.

The price of shares stood at Rs 39.77 billion as against Rs39.55 billion on the last trading day at the Pakistan Stock Exchange.

Analysts at Topline Securities said that the KSE-100 index closed at an all-time high on the back of a boost to investors’ confidence due to T-Bill yields, reduced political uncertainty, and a rally in leveraged companies supported by falling KIBOR rates.

“Major contributors to the index’s surge included PPL, HBL, OGDC, LUCK, and TRG, which collectively added 629 points to the index,” they added.

As many as 452 scrips were active at the PSX, out of which 290 recorded gains and 118 sustained losses, while the share price of 44 companies remained unchanged.

Bank of Punjab remained the top-trading company with 179.22 million shares at Rs8.85 per share, followed by K-Electric with 64.86 million shares at Rs5.40 per share. Bank Makramah remained the third with 64.86 million shares at Rs2.73 per share.

Unilever Pakistan Foods Limited witnessed an increase of Rs126.71 per share price, closing at Rs19,494.84, followed by Service Industries Limited with Rs51.21 rise in its per share price to Rs1,226.69.

Rafhan Maize Products Company Limited declined by Rs110.75 per share closing at Rs7,878, followed by PIA Holding Company LimitedB with Rs21.7 decline to close at Rs880.58.