ISLAMABAD: The record-breaking rally continued at the Pakistan Stock Exchange (PSX) on Wednesday, with the benchmark KSE-100 Index closing above the 130,000 mark for the first time in history.
Positive momentum persisted throughout the day, pushing the stock market to an intraday high of 130,545.94.
At close, the benchmark index settled at 130,344.03, showing an increase of 2,144.61 points or 1.67%.
Across the board buying was observed in key sectors including automobile assemblers, oil and gas exploration companies, OMCs, power generation, and refinery. Index-heavy stocks, including PRL, HUBCO, PSO, MARI, OGDC, PPL, and POL, traded in the green.
On Wednesday, a total of 1,026,117,776 shares were traded as compared to 1,032,756,027 shares on the last trading day, whereas the price of shares stood at PKR 49.294 billion against PKR 44.008 billion on the previous working day.
As many as 473 companies transacted their shares in the stock market, 256 of them recorded gains and 192 met losses, whereas the share price of 25 companies remained unchanged.
The three top trading companies were WorldCall Telecom with 89,872,005 shares at PKR 1.61 per share, followed by Bank of Punjab with 89,872,005 shares at PKR 11.54 per share, whereas Kohinoor Spinning settled with 46,349,499 shares at PKR 6.12 per share.
PIA Holding Company LimitedB witnessed a maximum increase of PKR 1,778.37 per share, closing at PKR 19,562.10, whereas Khyber Textile Mills Limited was the runner-up with a PKR 111.75 rise in its share price to close at PKR 486.16.
On Tuesday, the Pakistan Stock Exchange (PSX) sustained its bullish momentum, with the benchmark KSE-100 Index achieving yet another record close.
The rally was primarily driven by signs of macroeconomic stability, including easing inflation, a strengthening rupee, and growing optimism about potential monetary easing in the coming weeks.
The KSE-100 Index soared by an impressive 2,572.11 points, or 2.05%, closing at a historic high of 128,199.43 points.
On the global front, Asian stock markets faltered on Wednesday, while the US dollar hovered near three-and-a-half-year lows.
Investors remained cautious amid expectations of U.S. interest rate cuts and a rush to finalise trade agreements ahead of President Donald Trump’s July 9 tariff deadline.
President Trump confirmed he would not extend the July 9 deadline for countries to reach trade deals with the United States. He also expressed skepticism over a potential agreement with Japan.
