ISLAMABAD: The buying spree continued at the Pakistan Stock Exchange (PSX), as the 100-index benchmark crossed 103,000 points for the first time during the intra-day trading on Monday.
At the close of trading, the 100 Index gained 1,917 points or 1.89 percent to stand at 103,274.94 points before closing at this record high.
The trading house maintained a bullish trend throughout the day, showing investors’ confidence. Buying was recorded in key sectors including cement, commercial banks, automobile assemblers, fertilizer, oil and gas exploration companies, and refineries.
Earlier data released by the Pakistan Bureau of Statistics (PBS) showed that the country’s inflation clocked in at 4.9 percent on a year-on-year basis in November 2024, lower than in October 2024 when it stood at 7.2 percent.
On Monday a total of 1,556,252,523 shares were traded at the PSX during the day as compared to 915,509,804 shares the previous trading day, whereas the price of shares stood at Rs 47.097billion against Rs. 35.978 billion on the last trading day.
As many as 462 companies transacted their shares in the stock market, 339 of them witnessed gains and 85 met losses, whereas the share price of 38 companies remained unchanged.
The three top trading companies were WorldCall Telecom with 213,514,857 shares at Rs 1.46 per share followed by Cnergyico PK with 196,907,321 shares at Rs 5.72 per share whereas Fauji Foods Limited settled with 68,325,507 shares at Rs.13.62 per share.
Unilever Pakistan Foods Limited recorded a maximum increase of Rs.270.00 per share price, closing at Rs.19,800.01, whereas Services Industries Limited was the runner-up with Rs 134.94 rise in its per share price to Rs 1.484.30.
Ismail Industries Limited witnessed a maximum decline of Rs 38.28 per share closing at Rs 1,599.82 followed by Pakistan Tobacco Company Limited with a fall of Rs 20.23 to close at Rs1,214.96.
According to experts exchange rate stability, a transition from one $3-billion arrangement to another longer facility with the International Monetary Fund (IMF), improvement in index-heavy sector’s earnings and a general mood for stocks have been just a few factors behind the PSX phenomenal rise.
