KEY POINTS
- PSX continues record-breaking rallies.
- The buying spree shows investors’ confidence.
- The KSE-100 index witnesses a record point-wise weekly gain of 7,697 points.
ISLAMABAD: The Pakistan Stock Exchange (PSX) continued its record-setting streak on Thursday as the KSE-100 index gained more than 3,000 points to surpass the 114,000 benchmark.
The buying was observed in sectors, including automobile assemblers, cement, commercial banks, fertilisers, oil and gas exploration companies, refineries, and power generation. Prominent stocks such as HUBCO, SSGC, SMGP, ENGRO, PPL, MCB, MEBL, HBL, and NBP traded in the green.
At close, the benchmark index settled at 114,180.50, an increase of 3,370.29 points or 3.04%.
The buying momentum was attributed to positive macroeconomic developments, especially the decline in Pakistan’s inflation rate to 4.9% in November. This reduction has fueled expectations of a further policy rate cut during the upcoming Monetary Policy Committee (MPC) meeting.
On Thursday a total of 1,469,558,531 shares were entertained at the PSX as compared to 1,080,023,483 shares on the last trading day, whereas the price of shares stood at Rs 67.278 billion against Rs 47.139 billion on the previous working day.
As many as 464 companies transacted their shares in the stock market, 299 of them registered gains and 132 met losses, whereas the share price of 33 companies remained unchanged.
The three top trading companies were WorldCall Telecom 232,925,553 shares at Rs 1.79 per share followed by Cnergyico PK with 80,186,381 shares at Rs 7.21 per share whereas Pak International Bulk settled with 70,681,266 shares at Rs.9.07 per share.
Nestle Pakistan Limited registered a maximum increase of Rs.199.92 per share price, closing at Rs.7,355.19, whereas Rafhan Maize Products Company Limited was the runner-up with a rise of Rs 149.12 in its per share price to Rs 8,750.00
Macter International Limited recorded a maximum decline of Rs 30.16 per share closing at Rs 424.69 followed by Hallmark Company Limited with a fall of Rs 24.24 to close at Rs.800.53.
Mohammed Sohail, chief executive of Topline Securities, noted in a post on LinkedIn that the stock market recorded a “stellar” 180pc return — climbing “from 40,000 to 112,000 in just 18 months”.
“This marks the best comeback in Pakistan Stock Market’s 75-year history, tripling in value and showcasing unmatched resilience,” he wrote.
Earlier on Wednesday, the Pakistan Stock Exchange (PSX) saw a significant rebound, with the KSE-100 index rising by 1,913.57 points (1.76%) to close at 110,810.22, after a brief pause in trading.
The surge was driven by expectations of a policy rate cut due to a 4.9% inflation rate, the lowest in over six years. Last week, the KSE-100 index witnessed a record point-wise weekly gain of 7,697 points.
