KSE-100 Reaches New High as Market Stays Strong

On Friday the Pakistan Stock Exchange (PSX) saw a lot of buying and the KSE-100 index went over 77000 points for the first time ever.

Key Points:

• The KSE-100 index hit a high of 77310.45 points during the day but dropped a bit later.
• At the end of the day the KSE-100 index was up by 498.61 points finishing at 76706.77 its highest close ever.
• Important sectors like commercial banks, fertilizer, oil and gas companies saw a lot of buying.
• Big companies like SNGPL, OGDC, HBL, MCB and MEBL performed well.

Thursday’s Highlights:

• On Thursday the KSE-100 index had also done well closing at 76,208.16 points up by 3,410.73 points or 4.69%.
• The market reacted positively to the new federal budget for 2024-25.
• Analysts said the budget was good for the market because the government did not change the Capital Gain Tax (CGT).

Global Market:

• Stocks in Mainland China and Hong Kong fell on Friday.
• MSCI’s Asia ex-Japan stock index was down by 0.20% but Japan’s Nikkei index went up by 0.44%.

Pakistani Rupee:

• The Pakistani rupee gained 0.03% against the US dollar closing at 278.51.

Trading Volume:

• The total trading volume decreased to 395.89 million from 635.53 million the previous day.
• The value of shares traded dropped to Rs21.37 billion from Rs30.75 billion.

Top Traded Companies:

• K-Electric Ltd was the most traded company with 23.04 million shares.
• WorldCall Telecom and Air Link Communication followed with 22.4 million and 17.99 million shares respectively.

Thursday’s Trading:

• Shares of 439 companies were traded on Thursday.
• 160 companies saw an increase in their share prices, 205 saw a decrease and 74 remained unchanged.

This news shows that investor confidence is high and the PSX is performing well reaching new milestones.