PSX hits all-time high of 122,000 amid budget buzz
Business
The upward trajectory is fueled by rising expectations of economic stability in the country
KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) continued its bullish trend as shares climbed by over 300 points to reach another all-time high on Thursday.
The upward trajectory is fueled by rising expectations of economic stability in the country ahead of federal budget for next fiscal year 2025-26. It is being hoped that policy rate would see another cut in upcoming review if the stability persists.
A financial package of $800 million recently announced by the Asian Development Bank (ADB) also triggered positive sentiments in the market.
During the intraday trading, the KSE-100 reached 122,281 points, the all-time high level, after gaining more than 300 points.
Later, it closed in the negative zone at 121,641 after losing 157 points.
A day earlier, the 100-Index gained 1,347.99 points, a positive change of 1.12 percent, closing at 121,798.87 points.
A total of 710,591,203 shares were traded during the day as compared to 578,163,611 shares the previous trading day, whereas the price of shares stood at Rs 35.216 billion against Rs 26.827 billion on the last trading day.
As many as 475 companies transacted their shares in the stock market, 264 of them recorded gains and 170 sustained losses, whereas the share price of 41 companies remained unchanged.
The three top trading companies were Sui South Gas with 51,634,991 shares at Rs 38.42 per share, Fauji Foods Limited with 51,388,381 shares at Rs 16.75 per share and K-Electric Limited with 41,397,930 shares at Rs 5.41 per share.
