Monday, May 27, 2024

Pakistan Stock Exchange Sets New Record, Cross 70,500 Mark for First Time in History

On the first trading day of the week, the Pakistan Stock Exchange (PSX) showcased a robust performance, marking a significant milestone in its trading history.

The KSE-100 index, which is a primary indicator of the PSX’s overall performance, exhibited a notable uptrend by surging 229.86 points on Monday.

This substantial increase enabled the index to break through the 70,500 points threshold for the first time ever, concluding the trading session at an impressive 70,544.58 points. This represented a clear uptick from the previous day’s closing value of 70,314.72 points.

The trading landscape on this particular day was characterized by heightened activity, suggesting a heightened level of investor engagement and interest.

The total trading volume for the day reached a substantial 555,214,972 shares, translating to a total traded value of approximately Rs21.986 billion.

This uptick in trading volume and value was significantly higher compared to the preceding day’s trading activity, which saw 389,396,548 shares traded with a total value of Rs17.273 billion.

A wide spectrum of companies actively participated in the trading session, with a total of 353 companies featuring on the trading boards. Among these, 180 companies observed an uptick in their share prices, indicating a prevalent bullish sentiment among investors.

In contrast, 156 companies witnessed a decline in their share prices, while the share prices of 17 companies remained stable without any change.

Several companies stood out as notable performers during the trading session on the PSX. WorldCall Telecom, Fauji Cement, and Fauji Foods Limited were among the top-performing companies, attracting significant investor attention and contributing to the overall positive sentiment.

Bata Pakistan Limited registered the most substantial increase in its share price, climbing by Rs25 to reach a closing price of Rs1,725.00.

Similarly, Sugar Engineering Works Limited experienced a significant uptick in its share price, rising by Rs23.19 and closing at Rs493.46.

The trading day was marked by a strong bullish trend, high trading volumes, and positive performances across a broad range of companies. This overall positive momentum reflected a sense of optimism, confidence, and renewed interest in the Pakistani stock market among investors.

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