ISLAMABAD: Pakistan Stock Exchange (PSX) continued with its record-breaking streak on Tuesday, briefly touching 96,000 points in intraday trade.
The trading house began its session at the previous close of 94,995.67, maintaining positive momentum.
At one time the 100-index soared by 1019.23 points or 1.07% to hit an intraday high of 96,014.90.
This remarkable achievement shows growing investor confidence and a resilient economy, as well as a robust performance across various sectors.
At the end of the business day, the 100-Index increased by 861.00 points, with a positive change of 0.91 percent to stand at 95,856.67 points.
A total of 830,931,008 shares were entertained during the day as compared to 765,206,618 shares the previous trading day, whereas the price of shares stood at Rs 30.019 billion against Rs. 23.924 billion on the last trading day.
As many as 460 companies transacted their shares in the PSX, 249 of them registered gains and 156 met losses, whereas the share price of 55 companies remained unchanged.
The three top trading companies were Hascol Petrol with 60,058,856 shares at Rs 10.24 per share followed by K-Electric Limited with 44,488,839 shares at Rs 5.24 per share whereas Cnergyico PK settled with 42,303,494 shares at Rs.4.64 per share.
Rafhan Maize Products Company Limited recorded a maximum increase of Rs.120.10 per share price, closing at Rs 8,004.60, whereas Abbott Laboratories (Pakistan) Limited was the runner-up with an increase of Rs 70.20 in its per share price to Rs 1,070.86.
PIA Holding Company Limited B witnessed a maximum decline of Rs 59.37 per share closing at Rs 840.61 followed by Unilever Pakistan Foods Limited with Rs 32.50 decline to close at Rs 19,117.50.
Investor sentiment increased after Finance Minister Mohammad Aurangzeb assured that the recent visit of the International Monetary Fund (IMF) to Pakistan posed no threat to Pakistan’s $7 billion loan programme.
Awais Ashraf, director research at AKD Securities, as quoted by daily Dawn said that the IMF’s positive statement after the conclusion of its mission’s visit has alleviated concerns of investors about a potentially inflationary mini-budget.
“Meanwhile, consistent buying by mutual funds this fiscal year, driven by monetary easing, has helped offset foreign outflows linked to FTSE rebalancing and selling by banks,” he said.
