PSX: KSE-100 surges to all-time high of 90,864 points

KARACHI: The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) hit a fresh all-time high on Tuesday amid positive sentiments.

The Index gained 668.57 points or 0.74 percent to close at 90,864.09 points, as against the closing of 90,195.52 points during the previous day’s session at the stock market.

The ready market volumes stood at 602.81 million compared with the previous day’s turnover of 567.26 million, whereas the price of shares stood at Rs28.2 billion as compared with Rs29.21 billion on the last trading day at the PSX.

As many as 440 scrips were active, out of which 171 recorded gains and 219 sustained losses, while the share price of 50 companies remained unchanged.

Analysts at Topline Securities said that the rally highlights the Pakistan Stock Exchange’s ongoing bullish momentum, fueled by robust corporate earnings that surpassed expectations, strengthening investor confidence.

“Institutional buying further propelled the rally, supporting the positive market sentiment,” as per the analysts.

The three top trading companies were WorldCall Telecom with 41.4 million shares at Rs1.27 per share, followed by Silk Bank Limited with 31.28 million shares at Rs1.08 per share while Pace (Pak) Limited remained the third with 30.2 million shares at Rs5.73 per share.

Unilever Pakistan Foods Limited remained the top gainer with an increase of Rs162 in its share price, closing at Rs19,180 followed by Siemens (Pakistan) Engineering which witnessed an increase of Rs122.62 in its per share price to Rs1,348.81.

Hallmark Company Limited witnessed a decline of Rs27.38 per share closing at Rs816.66 followed by Sazgar Engineering Works Limited with Rs22 decline to close at Rs992.56.