PSX Gains 1378 Points to Close Just Shy of 85,000 Mark
The Pakistan Stock Exchange (PSX) continued its record-breaking rally on Monday, with the KSE-100 Index surging by 1,378.34 points to reach an all-time high of 84,910.30 points.
Market Surge Driven by Optimism
In a brief note, brokerage house Topline Securities attributed this surge to falling bond yields and an anticipated sharp drop in inflation, which has sparked a wave of optimism in the market.
Trading Volume and Value
The trading volume increased significantly, with a total of 449,507,635 shares traded compared to 381,529,555 shares on the previous trading day. The value of shares traded also saw a substantial rise, reaching Rs. 30.196 billion against Rs. 20.523 billion from the last trading day.
Market Activity
A total of 448 companies transacted their shares in the stock market. Out of these, 224 recorded gains, 86 sustained losses, and the share prices of 3 companies remained unchanged.
Top Trading Companies
The top three trading companies were:
- Pak Petroleum: 40,779,930 shares traded at Rs. 126.69 per share.
- Hub Power Company XD: 28,080,507 shares traded at Rs. 121.70 per share.
- Fauji Cement: 23,127,553 shares traded at Rs. 28.00 per share.
Significant Gains and Losses
- Hoechst Pakistan Limited: Witnessed the highest increase in share price, rising by Rs. 185.20 to close at Rs. 2,285.20.
- Pakistan Tobacco Company Limited: The runner-up with a rise of Rs. 85.77, closing at Rs. 1,027.45 per share.
- Bhanero Textile Mills Limited: Experienced the maximum decrease, with a decline of Rs. 82.27 to close at Rs. 966.73 per share.
- Hallmark Company Limited: Followed with a drop of Rs. 43.04, closing at Rs. 1,132.30 per share.
