KEY POINTS
- The stock market resumed trading at 134,299.76 points
- The benchmark KSE-100 gained 2,202. 77 points
- PM expresses satisfaction over PSX performance
ISLAMABAD: Pakistan Stock Exchange (PSX) on Monday reached a historic milestone, surpassing the 136,500 level during intraday trading for the first time in history.
Positive momentum continued throughout the trading session, pushing the benchmark index to an intraday high of 136,841.49.
At close, the KSE-100 Index settled at 136,502.53, showing a gain of 2,202.77 points or 1.64%.
Buying was observed in key sectors including automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs, and refinery.
Index-heavy stocks, including MARI, OGDC, PPL, POL, PSO, SNGPL, SSGC, MEBL, NBP, and UBL, traded in the green.
On Monday, a total of 841,456,115 shares were traded, compared to 695,980,890 shares on the previous trading day. The price of shares stood at PKR 37.051 billion, against PKR 35.400 billion on the previous working day.
As many as 474 companies transacted their shares in the stock market, 264 of them recorded gains and 194 met losses, while the share price of 16 companies remained unchanged.
The three top trading companies were Cres. Star Industries with 47,209,653 shares at PKR 4.34 per share, K-Electric Limited with 42,841,396 shares at PKR 5.33 per share, and First Dawood Prop with 35,579,177 shares at PKR 5.55 per share.
PM expresses satisfaction over PSX performance
Prime Minister Shehbaz Sharif has expressed satisfaction over the Pakistan Stock Exchange’s performance.
In a statement, he said the historic surge of the stock market is a reflection of the business community’s confidence in the Pakistani economy.
He said recent positive economic indicators are a testament to the correct direction of the government’s policies.
The Prime Minister said providing a business-friendly environment in the country is our top priority. He said Pakistan is now on the path to economic growth after achieving economic stability.
Previous week
Last week, the Pakistan Stock Exchange (PSX) continued its bullish trend, with the benchmark KSE-100 Index reaching a new all-time high of 134,299.77 points.
The index posted a strong weekly gain of 2,351 points, or 1.8% on a week-on-week basis.
This milestone adds to the PSX’s impressive rally, driven by strengthening macroeconomic fundamentals, consistent foreign investment inflows, and robust participation from institutional investors.
Global trend
On the global front, Asian markets faced pressure on Monday as futures in Wall Street and European shares declined, weighed down by renewed trade tensions.
Investor sentiment was shaken by US President Donald Trump’s announcement of a 30% tariff on most imports from the European Union and Mexico, set to take effect on August 1.
While negotiations are ongoing, Trump’s tough rhetoric has left markets wary, though many investors believe the threats may be more about posturing than immediate policy shifts.
In response, the European Union extended its suspension of countermeasures until early August and reaffirmed its commitment to reaching a negotiated resolution.
However, Germany’s finance minister urged a firm response if the tariffs are implemented.
In Asia, MSCI’s broadest index of Asia-Pacific shares outside Japan held steady, while Japan’s Nikkei dipped 0.3%.
Chinese blue-chip stocks edged up 0.3%, supported by stronger-than-expected export data, which showed a 5.8% annual increase in June.
However, exports to the US dropped nearly 10%. Investors are now looking ahead to key Chinese economic data, including retail sales, industrial output, and GDP figures.
