PSX Wrap-Up: Bulls Continue Reign as KSE-100 Index Surges Again

In a remarkable display of bullish momentum, the Pakistan Stock Exchange (PSX) witnessed another session of market dominance as the benchmark KSE-100 index soared by an additional 1,188.61 points or 1.95%, culminating at 62,052.24 at the closing bell.

This bullish trend follows the index's third-largest single-day gain in absolute terms recorded the day before, effectively recovering most of its earlier losses during the recent market downturn. Over the past two weeks, the index had undergone a correction of approximately 12% from its peak, presenting an enticing buying opportunity for discerning investors.

Throughout the trading day, the KSE-100 index maintained a positive trajectory, reaching an intraday high of 62,750.78 (+1,887.15) and a low of 61,092.27 (+228.65) points. The total trading volume for the KSE-100 index amounted to 378.62 million shares.

Of the 100 index companies, 83 concluded with gains, 15 with losses, and 2 remained untraded. The upward momentum was primarily driven by Commercial Banks, Oil & Gas Exploration Companies, Cement, Power Generation & Distribution, and Fertilizer sectors.

Conversely, the index experienced downward pressure from the Technology & Communication, Insurance, Automobile Assembler, Property, and Refinery sectors.

Key contributors to the positive momentum included HUBC, BAHL, MARI, LUCK, and OGDC, accumulating significant points. On the flip side, companies such as SYS, KEL, EFUG, CNERGY, and NBP contributed to pulling the index down.

In the broader market, the All-Share index closed at 41,568.01, marking a net gain of 883.39 points. The total market volume reached 676.243 million shares, slightly higher than the previous session, and the traded value rose to Rs20.28 billion, reflecting an increase of Rs4.16 billion.

The day witnessed 232,377 trades across 377 companies, with 282 recording gains, 79 in losses, and 16 remaining unchanged.

Top Ten by Volume:

Noteworthy, the KSE-100 has seen a remarkable gain of 20,600 points or 49.69% during the fiscal year, and the ongoing calendar year has witnessed a cumulative increase of 21,632 points, equivalent to 53.52%.