Pakistan Stock Exchange (PSX) continued its Bullish Momentum on Thursday and achieved a highlight of all the time as the KSE-100 index, which crosses 119,421.81-point mark during the intra-day trade
The stock market is currently experiencing a positive movement, with the current index up with 689.71 points reaching 118,663.73, reflecting an increase of 0.58% during the day.
The market reached a highlight at all times of 119,421.81 points today, while the lowest point recorded so far was 118,525.00.
Trade volume is 268,125,313 shares with a total value of RS20.221.788.995. The market is still open and the final performance is determined when it closes.
This upward trend indicates a positive mood among investors showing growing confidence in the market as the session continues.
Earlier on Wednesday, Pakistan Stock Exchange (PSX) hit a high highlight and reached almost 118,000 points as the market expanded its winning row and won over 950 points.
This wave was driven by robust local institutional purchases and the potential solution of the long -term circular debt question in the electricity sector.
Positive expectations regarding the approval of the IMF’s first review during the expanded fund facility of $ 7 billion also increased the investor’s confidence.
The IMF’s potential approval of the government’s circular debt management plan and clearing of outstanding quota for independent power producers (IPPs) facilitated concerns in the energy sector.
Key sectors, including cement, commercial banks, oil and gas, fertilizer and power, so strongly buy, push the index to an intra-day height of 118,244.
The KSE-100 index closed at 117,974.03, up with 972.94 points (0.83%). The most important contributors for the climb included Hub Power, Mari Petroleum, Engro Holdings, Systems Limited and Pakistan Petroleum.
However, companies such as Fauji Fertilizer Co, Ethgro fertilizer and Pakistani oil fields dragged the index down.
Trade volume increased to 544.2 million shares with a total value of RS32.3 billion. In particular, Pakistan International Bulk Terminal was the toll manager, followed by Pak Elektron and Worldcall Telecom. Foreign investors sold shares worth RS963.9 million.
Analysts are optimistic and continue to predict Bullish Momentum with expectations of further progress with the IMF review and the circular debt resolution.
