Islamabad, Nov 7: PSX Surges Nearly 500 Points, Reaches Record High. The Pakistan Stock Exchange’s PSX 100-Index surged by 499.05 points to finish at a record high of 92,520.49 points on Thursday.
On that day, 678,788,064 shares were exchanged, a decrease compared to 889,166,479 shares traded the prior day. The total value of shares amounted to Rs 24.827 billion, down from Rs 30.474 billion on the last trading day.
A total of 449 companies engaged in share transactions within the stock market, with 257 experiencing gains and 145 facing losses, while the share prices of 47 companies remained unchanged.
In a brief analysis, brokerage firm Topline Securities noted that the market surge was fueled by the recent Ijara Sukuk auction, in which the cut-off yield for 1-year Sukuk dropped to 10.99 percent, indicating a potential reduction in yields across all durations for upcoming T-bills and PIBs auctions.
The report also highlighted that following the prime minister’s recent trip to Saudi Arabia, a delegation headed by the Power Minister has been dispatched, with expectations of announcements regarding new Saudi investments, including Reko Diq as a likely major project. This news generated heightened interest among investors in OGDC and PPL, the report added.
