PSX Ends at New All-Time High After 7.5-Year High Market Activity
It was a big day for the Pakistan Stock Exchange (PSX) because market activity hit its highest level in 7.5 years. The main bourse ended at 103,274 shares, worth Rs. 47 billion ($169 million).
Arif Habib Limited says this is the busiest day in the normal market since May 31, 2017, which was the day MSCI reclassified the shares. In addition to that day, it marks the highest volume of transactions since April 9, 2008, nearly 17 years ago.
After ending the day at 101,357 points on Friday, the KSE-100 index rose by 1,917 points, or 1.89 percent, to 103,274 points. This amazing result shows a 65% increase year-to-date and a shocking 32% rise since June 2024.
According to AHL, today’s close also shows a 64 percent rise year-to-date and a shocking 32 percent rise since June 2024.
The day saw the buying and selling of 1,556,252,523 shares, each at a price of Rs. 47.097 billion.
Up to 461 companies traded their shares on the stock market. The share prices of 338 of them went up, while the share prices of 85 of them went down. The share prices of 38 companies stayed the same.
Several significant sectors, including cement, commercial banks, fertilizer, oil and gas research companies, oil marketing companies (OMCs), and refineries, experienced significant buying activity. Index-heavy names such as HUBCO, PRL, NRL, SNGPL, SSGC, OGDC, PPL, MCB, MEBL, and NBP all experienced an increase, contributing to the market’s rise.
Market experts said that people were feeling positive because they thought that inflation numbers would be lower in November. This made people hopeful that the Monetary Policy Committee (MPC) might lower interest rates at their next meeting.
Worldcall Telecom Limited (PSX: WTL) had the most shares, with 213,514,857. Cnergyico PK Limited (PSX: CNERGY) came in second with 196,907,321 shares. Fauji Foods Limited (PSX: FFL) took third with 68,325,507 shares.
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