First time
\n KARACHI
\nPakistan Stock Exchange (PSX) continued with its record-breaking spree on Friday and achieved another milestone when its benchmark KSE-100 Index closed above 75,000 points level for the first time in history, gaining 411.65 points (0.55 percent) to close at 75,342.34 points.
\nEarlier, the KSE-100 Index briefly crossed 75,000 points level during intra-day on Wednesday and Thursday last, but was unable to sustain the level due to some selling pressure.
\nThe market opened on a positive note on Friday and remained positive throughout the both sessions of the day. The benchmark KSE-100 index has surged by 80.10 percent during the fiscal year 2023-24 and 16.52 percent during the current year.
\nThe market\u2019s historic bull run, which started last year with the International Monetary Fund (IMF) loan deal, has been further fueled amid strong foreign buying spree, renewed bets for interest rate cuts due to improvement in economic conditions, and official talks for a new IMF program.
\nForeign investors have been heavily accumulating debt-ridden nation\u2019s stock throughout the fiscal year 2024.
\nForeign buying in the current month to date has amounted to $21.95 million, on its way to record the longest monthly buying streak since at least 2016, according to NCCPL data. In the current fiscal year, foreign buying has amounted to a substantial $145 million, as against an outflow of $5.5 million in the same period last year.
\nThe benchmark index traded in a range of 453.40 points, showing an intraday high of 75,401.11 points and an intraday low of 74,947.71 points. Among other indices, the KSE All Share Index gained 232.51 points (0.48 percent) to close at 48,769.45 points. Similarly, the KMI All Share Islamic Index gained 229,59.66 points (0.73 percent) to close at 34,803.01 points.
\nTotal volumes traded for the KSE-100 Index remained 188.72 million shares, while the overall market volumes remained 496.7 million shares. Among scrips, KOSM topped the volumes with 44.62 million shares, followed by PIAA (28.76 million) and KEL (23.06 million).
\nStocks that contributed significantly to the volumes included KOSM, PIAA, KEL, DCL, and PAEL, which formed around 28 percent of total volumes.
\nA total of 384 companies traded shares in the stock exchange, out of which shares of 212 closed up, shares of 151 companies closed down while shares of 21 companies remained unchanged. A total of 100 companies traded shares in the KSE-100 Index, out of which share prices of 68 companies closed up, 30 companies closed down, and two remained unchanged. The number of total trades remained 224,335, while the value traded was recorded at Rs17.63 billion.
\nIn terms of rupee, NESTLE remained the top gainer with an increase of Rs149.82 (+2.06 percent) per share, closing at Rs7,429.82. The runner-up remained ISIL, the share price of which climbed up by Rs104.14 (+7.21 percent) to Rs1,548.92. SRVI remained the top loser with a decrease of Rs23.52 (-2.93 percent) per share, closing at Rs778.03, followed by KHYT, the share price of which fell by Rs19.98 (-4.16 percent) to close at Rs460.73 per share.
\nThe major sectors taking the index towards north remained fertilizer (90 points), power generation and distribution (72 points), investment banks\/investment companies\/ securities companies (68 points), pharmaceutical (43 points), automobile parts and accessories (42 points), engineering (25 points), food and personal care products (23 points), refinery (21 points), oil & gas exploration companies (16 points), and textile composite (15 points).
\nMajor companies adding points to the index remained DAWH (71 points), HUBC (46 points), THALL (42 points), FFC and EFERT (30 points each), SEARL (23 points), PKGP (22 points), PPL (18 points), ENGRO (17 points), and ILP (16 points).
\nThe major sectors taking the index towards south remained commercial banks (29 points), leather and tanneries (14 points), tobacco (6 points), cement (5 points), insurance (4 points), and miscellaneous (2 points).
\nMajor companies depriving the index of points remained LUCK (22 points), MCB (15 points), SRVI (14 points), MEBL (10 points), HBL (9 points), and ABL, HMB, PAKT, MARI and MLCF (6 points each). TLTP<\/p>\n","protected":false},"excerpt":{"rendered":"
First time KARACHI Pakistan Stock Exchange (PSX) continued with its record-breaking spree on Friday and achieved another milestone when its benchmark KSE-100 Index closed above 75,000 points level for the first time in history, gaining 411.65 points (0.55 percent) to close at 75,342.34 points. Earlier, the KSE-100 Index briefly crossed 75,000 points level during intra-day […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-407752","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n