Thursday, the Pakistan Stock Exchange (PSX) continued its shift momentum
The stock market is currently experiencing a positive movement, the current index increased by 689.71 points, reaching 118,663.73, reflecting an increase of 0.58% during the day.
The market has reached a summit of 119,421.81 points today, while the lowest point recorded so far was 118,525.00.
The volume of negotiation amounts to 268,125,313 shares, with a total value of RS20 221,788,995. The market is still open and the final performance will be determined once the closure is closed.
This upward trend indicates a positive feeling among investors, showing growing confidence in the market as the session continues.
Earlier Wednesday, the Pakistan Stock Exchange (PSX) reached a record level, reaching nearly 118,000 points, while the market extended its victory sequence, earning more than 950 points.
This increase was motivated by robust local institutional purchases and the potential resolution of the long -standing circular debt in the electricity sector.
Positive expectations surrounding the approval of the first IMF examination under the prolonged $ 7 billion funds have also strengthened the confidence of investors.
The potential approval by the IMF of the government’s circular debt management plan and the compensation of pending contributions for independent electricity producers (IPPS) have relieved concerns in the energy sector.
The key sectors, including cement, commercial banks, oil and gas, fertilizers and electricity, have experienced strong purchases, pushing the index to an intra-day summit of 118,244.
The KSE-100 index closed at 117,974.03, up 972.94 points (0.83%). The main contributors to the climb included Hub Power, Mari Petroleum, Engro Holdings, Systems Limited and Pakistan Petroleum.
However, companies like Faji Fertilizer Co, Engro Fertilizers and Pakistan Oildfields have slightly led to the index.
The negotiation volume increased to 544.2 million shares, with a total value of 32.3 billion rupees. In particular, the Pakistani international bulk terminal was the volume leader, followed by Pak Elektron and Worldcall Telecom. Foreign investors have sold stocks worth 963.9 million rupees.
Analysts are optimistic, predicting a continuous upward dynamic, with expectations of additional progress on the IMF exam and the resolution of the circular debt.
