Islamabad, Oct 8: PSX Extends Record-Breaking Rally, Surpassing 85,500 Points. The Pakistan Stock Exchange’s 100-Index gained 753.68 points to settle at 85,663.98 on Tuesday, continuing its upward trajectory.
In the course of the day, 506,565,368 shares were traded, up from 449,507,635 shares on the previous trading day. The price of shares was Rs. 33.049 billion, down from Rs. 30.196 billion on the previous trading day.
Brokerage firm Topline Securities pointed out that the index has returned 80% to investors over the past 12 months, with a 9 percent gain in the last month. In the stock market, 448 firms exchanged their shares; 193 of them saw gains, and 194 saw losses; the share prices of 61 companies stayed the same.
The three highest trading businesses were Hub Power Company with 44,845,448 shares at Rs. 111.92 per share, Pak Petroleum with 21,544,867 shares at Rs. 128.12 per share and Pak Refinery with 21, 345,096 shares at Rs. 25. 57 per share.
Key Details:
- Market Performance: The PSX recorded substantial gains throughout the trading session, driven by strong performances in key sectors, including banking, textiles, and technology. Analysts attribute this upward trend to positive economic developments and strong corporate earnings.
- Investor Sentiment: Increased investor interest has been noted, with both institutional and retail investors actively participating in the market. The overall sentiment remains bullish as traders anticipate further growth and favorable policies.
- Economic Factors: Several factors have contributed to this rally, including recent government initiatives to stabilize the economy, encouraging foreign investment, and improving economic indicators such as inflation and currency stability.
- Record-Breaking Trends: Today’s milestone continues a series of record highs for the PSX, reflecting the resilience and recovery of the market after previous challenges. This performance is viewed as a positive sign for the country’s economic outlook.
- Future Outlook: Market analysts remain optimistic about the PSX’s future trajectory, projecting continued growth in the coming weeks as investor confidence remains high and external conditions remain favorable.
