ISLAMABAD: A day after surging by more than 6,000 points, the buying momentum continued at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index climbing over 500 points on Wednesday.
Positive momentum was observed in key sectors including automobile assemblers, commercial banks, fertiliser, oil and gas exploration companies, OMCs, and refinery. Index-heavy stocks, including NRL, MARI, PPL, SSGC, MEBL, NBP, and UBL, traded in the green.
By the close of the trading, the KSE-100 Index settled at 122,761.64, marking a gain of 515 points or 0.42%.
On Wednesday, a total of 749,799,164 shares were traded at the Pakistan Stock Exchange as compared to 804,779,73 shares on the last working day, whereas the price of shares stood at PKR 28.030 billion against PKR 37.614 billion on the previous trading day.
As many as 472 companies transacted their shares in the stock market, 274 of them recorded gains, and 161 met losses, whereas the share price of 37 companies remained unchanged.
The three top trading companies were WorldCall Telecom with 102,387,162 shares at PKR 1.49 per share, Pak Refinery with 47,112,412 shares at PKR 35.27 per share, and Cnergyico PK with 39,573,275 shares at PKR 7.25 per share.
PIA Holding Company LimitedB witnessed a maximum increase of PKR 1,104.23 per share, closing at PKR 12,146.53, whereas the runner-up was Ismail Industries Limited with PKR 130.00 rise in its share price to close at PKR 1,930.00.
Unilever Pakistan Foods Limited witnessed a maximum decline of PKR 163.93 per share price, closing at PKR 23,457.50, whereas the runner-up was Sazgar Engineering Works Limited with a PKR 36.58 decrease in its per share price to PKR 1,094.77.
On Tuesday, the Pakistan Stock Exchange (PSX) soared to a record high, fueled by investor optimism following a ceasefire agreement between Iran and Israel.
The benchmark KSE-100 Index jumped by an impressive 6,079 points, or 5.23%, closing at an all-time high of 122,246 points. This marked the second-largest single-day gain in terms of points.
Globally, Asian markets stabilised on Wednesday as crude oil prices hovered near multi-week lows, with the ceasefire between Israel and Iran supporting investor sentiment, despite lingering concerns of renewed tensions.
Meanwhile, the US dollar hovered near a nearly four-year low against the euro, as two-year US Treasury yields dipped to one-and-a-half-month lows. Falling oil prices helped ease inflation fears, reducing pressure on bond markets.
