Tag: psx closing today

  • Pakistan Stock Exchange closes above 80,000 mark for the first time in history

    Pakistan Stock Exchange closes above 80,000 mark for the first time in history

    Bulls dominated the Pakistan Stock Exchange (PSX) on Wednesday, propelling the benchmark KSE-100 index to a record-breaking high above the 80,000 mark.

    The KSE-100 index closed at an unprecedented 80,233.67 points, up 680.79 points or 0.86 per cent from the previous session.

    Throughout the trading day, the index fluctuated within a range of 707.98 points, reaching an intraday peak of 80,405.23 points and dipping to a low of 79,697.25 points. The total volume of shares traded in the KSE-100 index was 280.09 million.

    Out of the 100 companies on the index, 65 ended the day in positive territory, 31 closed lower, and 4 remained unchanged.

    This surge comes as Pakistan seeks to finalise a staff-level agreement for a $6 billion International Monetary Fund bailout, having met all the lender’s requirements in its recent budget, according to the junior finance minister, Reuters reported.

    Key sectors driving the index higher included Commercial Banks (+274.44 points), Oil & Gas Exploration Companies (+161.35 points), Power Generation & Distribution (+87.90 points), Cement (+87.45 points), and Oil & Gas Marketing Companies (+68.34 points).

    Conversely, the index faced headwinds from the Fertilizer sector (-102.98 points), Tobacco (-32.38 points), Engineering (-29.42 points), Automobile Assembler (-12.75 points), and Automobile Parts & Accessories (-6.91 points).

  • Pakistan’s stock market closes above 75,000 mark for the first time

    Pakistan’s stock market closes above 75,000 mark for the first time

    The Pakistan Stock Exchange’s (PSX) KSE-100 index achieved a historic milestone on Friday, closing above 75,000 points for the first time ever. This marked the seventh consecutive session of gains, reflecting a strong buying momentum in the market.

    The trading session opened on a positive note, with bullish investors driving the market upward throughout the day. The KSE-100 Index ultimately settled at 75,342.35 points, an increase of 411.65 points or 0.55 per cent from the previous close.

    Significant buying activity was observed across various sectors, including oil and gas exploration, fertilisers, refineries, pharmaceuticals, cement, and chemicals, contributing to the robust market performance.

    The surge follows Thursday’s session, where the index gained 267 points to close just shy of the 75,000 mark, fueled by positive market sentiments.

    Market experts attribute this unprecedented rise to several favorable factors. These include the commencement of discussions with the International Monetary Fund (IMF) for a new loan programme and anticipations of a potential interest rate cut in the upcoming monetary policy meeting.

    Such developments have bolstered investor confidence, leading to increased market activity and record-high levels at the PSX.