PSX Hits Record High with 615-Point Surge!
In an impressive show of strength, the Pakistan Stock Exchange (PSX) soared on Friday, gaining 615.16 points and achieving its highest-ever closing at 82,074.45 points!
According to Topline Securities, the KSE-100 Index maintained its bullish momentum, trading primarily in the positive zone. At one point, it even reached an intraday high of 913 points before settling at 82,372.
This surge was largely attributed to lower-than-expected selling during the FTSE rebalancing, which saw Pakistan reclassified from Secondary Emerging to Frontier Market status by FTSE Russell.
On the trading floor, a total of 482,373,803 shares changed hands, an increase from the previous day’s 459,037,985 shares. The total trading value also rose significantly to Rs. 30.188 billion, compared to Rs. 18.610 billion on the last trading day.
Out of 453 companies traded, 195 saw their shares rise, while 196 faced losses, with 62 remaining unchanged. Leading the trading volume were First Capital Securities, Oil and Gas Development, and Fauji Fertilizer Bin Qasim.
What do you think of this remarkable milestone? Are you keeping an eye on the stock market?
