Bulls Rampant at PSX as KSE-100 Index Gains Over 4,400 Points

The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) gained 4,411 points or 3.87 percent on Monday to close at 113,924 points.  The nearly 4,500-point increase represents the second highest-ever single-day gain only behind the 4,695-point gain witnessed on November 27, 2024. Nine out of the top ten highest single-day gains have been recorded in 2024 with four of the top five coming in the last thirty days.  In a note, brokerage house Topline Securities said that the market continued its recovery following last week’s losses, driven by speculation that the selling by local funds has subsided. Key contributors to the upward movement included OGDC, ENGRO, FFC, PSO, and DAWH, which together accounted for a significant 1,554 points of the index’s overall rise, it added. A total of 806,701,244 shares were traded during the day as compared to 740,044,257 shares the previous day. The price of shares stood at Rs. 48.23 billion against Rs. 38.89 billion on the last trading day. 463 companies transacted their shares in the stock market today with 361 of them recording gains and 62 sustaining losses, whereas the share price of 40 companies remained unchanged.