KARACHI – The Pakistan Stock Exchange (PSX) witnessed a robust performance on Wednesday as the KSE-100 index surged past the 87,000-point threshold, showcasing strong investor confidence. The index gained 727.96 points, closing at an impressive 87,194.53 compared to the previous day’s 86,466.57 points.
Key players such as HUBCO, K-Electric Limited (KEL), Pakistan Petroleum Limited (PPL), Oil and Gas Development Company (OGDC), and Attock Refinery Limited (ATRL) saw their stocks performing in the green, driving the market to record highs.
Bullish Momentum Driven by Economic Optimism
Market experts have attributed the bullish momentum to expectations of an imminent cut in the policy rate coupled with a reduction in inflation. Additionally, increased political stability in the country has helped boost investor sentiments, encouraging local and foreign investments.
Record Trading Volumes
The PSX recorded a trading volume of over 424 million shares, with a total market value reaching Rs17.329 billion. A total of 447 companies participated in the trading, with 214 companies registering gains, while 173 recorded losses. The share prices of 60 companies remained unchanged.
Top Performers and Most Traded Companies
The three top-traded companies included:
- K-Electric Limited (KEL): 207,635,816 shares traded at Rs4.67 per share.
- WorldCall Telecom: 42,917,587 shares traded at Rs1.29 per share.
- Pak International Bulk: 33,969,303 shares traded at Rs5.96 per share.
Previous Day’s Performance
On Tuesday, the market also showed a bullish trend as aggressive buying by local investors led to a 409.06-point gain, closing at 86,466.58. The consistent upward trend reflects strong investor confidence in the market, signaling continued optimism for the near future.
