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PSX crosses the 48,000 mark, securing it with 900+ points

PSX crosses the 48,000 mark, securing it with 900+ points

PSX crosses the 48,000 mark, securing it with 900+ points

PSX crosses the 48,000 mark, securing it with 900+ points

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  • The Pakistan Stock Exchange (PSX) surged past 48,000 points on Wednesday.
  • The KSE 100 index initially fell by 167.45 points but later rebounded, reaching a peak of 48,334.54.
  • The total number of shares traded on the Pakistan Stock Exchange decreased by 6.3% from the previous session.
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On Wednesday, the Pakistan Stock Exchange (PSX) surged past 48,000 points. Traders are optimistic about market improvement after the coalition government’s imminent departure from power in a few days.

The KSE 100 index initially dropped by 167.45 points, reaching a low of 47,262.38. However, it later gained traction and surged to a high of 48,334.54, marking an increase of 904.71 points.

The index concluded with a 797.77-point rise at 48,227.60. The KMI 30 index saw a strong increase of 1,786.10 points, reaching 81,354.19. Additionally, the KSE All Share Index grew by 400.61 points, closing at 31,953.32.

The total market volume decreased from 335.21 million shares in the previous session to 311.31 million shares. Leading in market volumes were Oil and Gas Development Company Limited (OGDC +7.50 percent), Pakistan Petroleum Limited (PPL +7.50 percent), and JS Bank Limited (JSBL -0.73 percent). These stocks saw the highest trading activity, with 37.74 million, 22.76 million, and 21.56 million shares exchanged, respectively.

As per capital stake, sectors contributing to the rise of the KSE 100 index were banking (175.53 points), oil and gas exploration (169.02 points), and power generation and distribution (131.95 points). Notable companies driving the index higher were Oil and Gas Development Company Limited (OGDC 118.45 points), The Hub Power Company Limited (HUBC 115.60 points), and Pakistan Petroleum Limited (PPL 87.38 points).

SCRIPPRICEHIGHLOWCHANGEVOLUME
OGDC105.19105.1996.06.537,776,498
PPL74.9574.9569.034.1222,796,703
JSBL5.455.65.13-0.1421,564,500
CNERGY3.623.633.40.1320,157,425
MLCF32.232.230.511.1213,267,888
TELE7.998.237.750.1712,434,248
PRL17.217.2116.590.3112,409,710

The power generation and distribution sector saw a 5.39 percent increase in its overall market value. Hub Power Company Limited (HUBC) rose by 5.73 percent, K-Electric Limited (KEL) by 2.86 percent, Kot Addu Power Company Limited (KAPCO) by 4.30 percent, and Pakgen Power Limited (PKGP) by 7.50 percent, all closing in positive territory.

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