ISLAMABAD: The Pakistan Stock Exchange (PSX) started the new year with a boom, as the benchmark KSE-100 Index gained 1,881.18 points while settling above the 117,000 level on Wednesday.
A total of 956,274,456 shares were entertained during the day as compared to 1,236,873,705 shares the last working day, whereas the price of shares stood at Rs 46.440 billion against Rs. 44.218 billion on the previous trading day.
At close the index settled at 117,008.08 points with a positive change of 1.63 percent, while observing a bullish trend.
Buying was observed in key sectors, including automobiles, cement, commercial banks, fertiliser, oil and gas exploration companies, OMCs, power generation, and pharmaceuticals. Index-heavy stocks including HUBCO, PSO, MARI, OGDC, ENGRO, MCB and MEBL traded in the green.
On Wednesday as many as 462 companies transacted their shares in the stock market, 258 of them registered gains and 161 met losses, whereas the share price of 43 companies remained unchanged.
The three top trading companies were Cnergyico PK with 71,999,946 shares at Rs 7.66 per share followed by Pak Int. Bulk with 62,831,962 shares at Rs 9.30 per share whereas Bank of Punjab settled with 45,412,470 shares at Rs.10.96 per share.
Hallmark Company Limited recorded a maximum increase of Rs.91.47 per share price, closing at Rs 1,006.17, whereas Lucky Cement Limited was the runner-up with Rs 87.17 rise in its per share price to Rs 1,187.66.
Haleon Pakistan Limited witnessed a maximum decline of Rs 79.76 per share closing at Rs 2,720.24followed by Pakistan Tobacco Company Limited with a fall of Rs 54.76 to close at Rs.1,277.03.
Prime Minister Shehbaz Sharif on Tuesday unveiled ‘Uraan Pakistan’, a five-year national economic plan aimed at steering the country toward sustainable growth.
On Tuesday, the KSE-100 closed the last trading day of 2024 nearly flat, settling at 115,126.90, slightly;y down by 132.09 points or 0.11.
PSX experienced a remarkable comeback in the year 2024, following years of weak performance. Stocks increased by 84.34%, making it the second-best-performing market internationally.
Over the last 18 months, the PSX has been the top-performing market in the world with a 178% gain.
