PSX closes up as KSE-100 gains 162.41 points

KARACHI: The Pakistan Stock Exchange benchmark index KSE-100 gained 162.41 points on Wednesday to close at 81,967 points, from the previous day’s closing of 81,805.

The KSE-100 index remained volatile throughout the trading session, hitting a high of 82,360 points before retreating to an intraday low of 81,529.45 points.

Investors remained active in the PSX as 360.98 million shares were exchanged, as against the previous turnover of 359.08 million shares.

As many as 448 scrips were active, out of which 164 advanced, 221 declined and 63 remained unchanged.

The highest volumes were witnessed in Agha Steel with a turnover of 30.83 million shares, followed by WorldCall Telecom with a turnover of 26.47 million shares. Fauji Cement remained the third with a turnover of 20.04 million shares.

Rafhan Maize Products Company Limited registered a maximum rise of Rs 187.57 per share price, closing at Rs 6,999, followed by Unilever Pakistan Foods Limited with a Rs 28.80 increase in its per share price to Rs 17,295.8.

An analyst at Topline Securities Limited said that volatility in the Pakistan Stock Exchange was largely attributed to concerns over geopolitical developments, particularly the ongoing tensions in the Middle East, which weighed on global investor sentiment.

The KSE-100 overall performance was bolstered by United Bank Limited (UBL), Fauji Fertilizer Company (FFC), MCB Bank, Engro Corporation, and Pakistan GasPort Limited (PKGP), collectively contributing 270 points to the KSE-100 index.