KARACHI, : Pakistan Stock Exchange (PSX) witnessed a historic session on Friday, with the benchmark KSE-100 index gaining 1,159.98 points (+1.92 percent) to close above the 61,000 points for the first time in history at 61,691.25 points.
The KSE-100 Index also crossed the 61,000 points milestone on Wednesday but could not sustain the record level and ended up in the red zone. The buying spree was broad-based on Friday, with all major sectors contributing to the index’s rise. The PSX has been on a winning streak since the start of November, posting a return of 16.6 percent, the highest monthly return since March 2009.
The KSE-100 has gained 20,239 points (48.82 percent) during the current fiscal year and 21,271 points (52.62 percent) in the ongoing calendar year.
The market reacted positively to the improvement in the country’s financial indicators, such as the increase in foreign exchange reserves and the expected decline in the policy rate. The rupee also strengthened against the US dollar in the interbank and open markets. The PSX has also attracted significant foreign inflows in the month of November, recording a net buying of $34.5 million, the highest since January 2018.
This confidence from overseas investors has resurfaced amid hopes of improved economic conditions following the expected inflows from the IMF and friendly countries, relatively stable currency amid government-backed administrative efforts, and a possible slash in the interest rates.
The benchmark index traded in a range of 1,203.31 points, showing an intraday high of 61,779.72 points and an intraday low of 60,576.41 points. Among other indices, the KSE All Share Index gained 721.10 points (+1.76 percent) to close at 41,045.37 points. Similarly, the KMI All Share Islamic Index gained 651.23 points (+2.16 percent) to close at 30,097.45 points.
Total volumes traded for the KSE-100 Index increased by 62.99 million to 295.89 million shares against 232.90 million shares a session earlier. The overall market volumes increased by 64.17 million shares to 531.33 million shares against 467.16 million shares traded a session earlier.
Among scrips, MLCF topped the volumes with 43.07 million shares, followed by PAEL (39.80 million) and FFBL (27.57 million). Stocks that contributed significantly to the volumes included MLCF, PAEL, FFBL, FCCL, and HUMNL, which formed over 30 percent of total volumes.
A total of 387 companies traded shares in the stock exchange against 377 companies a session earlier, out of which shares of 297 closed up, shares of 74 companies closed down while shares of 16 companies remained unchanged. A total of 97 companies traded shares in the KSE-100 Index against 98 a session earlier, out of which share prices of 81 companies closed up, 13 companies closed down and three remained unchanged.
The number of total trades increased to 214,506 from 199,298 a session earlier, while the value traded increased by Rs2.81 billion to Rs21.56 billion against Rs18.75 billion in the previous session.
In terms of rupee, RMPL remained the top gainer with an increase of Rs756.77 (+7.49 percent) per share, closing at Rs10,856.77. The runner-up remained ISIL, the share price of which climbed up by Rs93.28 (+7.5 percent) to Rs1,337.06. UPFL remained the top loser with a decrease of Rs1,000 (-4.44 percent) per share, closing at Rs21,500, followed by SIEM, the share price of which fell by Rs58.15 (-7.5 percent) to close at Rs717.18 per share.
The major sectors taking the index towards north remained cement (299 points), automobile assembler (128 points), fertilizer (127 points), commercial banks (107 points), and oi
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