PSX soars to all-time high, crosses 99,000 mark

The Pakistan Stock Exchange (PSX) continued its bullish momentum on Friday, achieving a historic milestone as the KSE-100 index crossed 99,000-point mark.

As per details, the bencmark KSE-100 index reached an all-time high of 99,085 points during intra-day trading, surpassing its previous close of 97,328.39 points.

On Thursday, the KSE-100 index gained 1,781.94 points, or 1.86 per cent to settle at 97,328.39 points at the closing of the stock market.

A total of 969.9 million shares were traded during the day at the PSX, from the previous day’s turnover of 1.13 billion.

The price of shares stood at Rs35.16 billion as against Rs37.48 billion on the last trading day.

Analysts at Topline Securities said that the Pakistan Stock Exchange demonstrated a bullish trajectory, as KSE-100 reached an intraday high of 97,437 points.

“Investor confidence was boosted following the Army Chief’s meeting with the business community. Additionally, aggressive buying in the fertilizer sector, particularly in FFC and FFBL, contributed to the positive momentum,” they added.

As many as 457 scrips were active in the stock market, out of which, 249 recorded gains and 167 witnessed losses, while the share price of 41 companies remained unchanged.

Pakistan Services Limited remained the top gainer, recording an increase of Rs80.17 to close at Rs882.84, followed by Haleon Pakistan Limited which recorded an increase of Rs80.13 to settle at Rs882.45 at the closing of the PSX.

On the flip side, Rafhan Maize Products Company Limited recorded a decline of Rs137.27 to reach Rs7,956.29 while Nestle Pakistan Limited shed Rs74.86 to reach Rs6,616.31 at the closing of the stock market.