Share prices at Pakistan Stock Exchange (PSX) pressed ahead with the record-breaking run as on Thursday they overcame another barrier lifting the index to a new all-time high.
In the first session, the PSX’s benchmark KSE-100 index rallied to 131,258 points surging by 913 points, on the back of aggressive institutional buying and investor optimism. Later some profit-taking was witnessed which eroded some of the gains, but at 11:00 am the index was being traded at 130,767.00 up by 422.97 points or 0.32 percent.
At the close of business on Thursday, the index gained 342.62 points or 0.26 percent to 130,686 points.
Of the total 467 companies traded today, share prices of 215 companies were up and of 236 companies were down while 16 remained unchanged.
On Wednesday, the PSX index had hit an all-time high of 130,344.03 points, registering a surge of 2,144.61 points—an impressive gain of 1.67 percent.
The latest milestone underscores growing optimism in the financial markets, as the PSX continued to attract both local and foreign interest amid signs of economic recovery.
A total of 1,026,117,776 shares were traded on Wednesday, whereas the price of shares stood at Rs49.294 billion.
Experts opined that the bullish momentum was fuelled by value-hunting amid renewed fiscal-year optimism and limited appeal in fixed-income instruments, prompting a rotation into equities in search of higher returns.
Banks spearheaded the rally on Wednesday, with heavyweight stocks such as United Bank, MCB Bank, Bank Al-Habib, Meezan Bank, Habib Bank and National Bank collectively contributing 1,285 points to the index. The sector attracted strong institutional interest driven by expectations of monetary easing, robust financial results, and attractive dividend yields.
The pharmaceutical sector also saw a resurgence, with The Searle Company hitting its upper lock. Citi Pharma Ltd, Haleon Pakistan Ltd, and Abbott Laboratories (Pakistan) Ltd drew notable investor interest.
Overall trading activity remained vibrant. Volumes surpassed 1.02 billion shares, while the total traded value reached Rs49.17 billion. Worldcall Telecom Ltd led the volume chart with 89.8 million shares changing hands.
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