PSX Continues Unstoppable Run to Close at New Record High

The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index continued with bullish trend on Wednesday, gaining 820 points, a positive change of 0.55 percent, closing all time high at 150,591 points. In a note, brokerage house Topline Securities said the upward momentum was underpinned by better-than-expected corporate earnings and a strong liquidity push from local institutions, lifting the benchmark to uncharted heights. Investor confidence remained buoyant as market heavyweights attracted robust flows, reinforcing the bullish undertone. The rally was largely fueled by index heavyweights including SYS, BAHL, NBP, MCB, and BAFL, which collectively contributed 503 points to the index’s upward trajectory, Topline said. A total of 667,817,396 shares were traded during the day as compared to 809,082,439 shares the previous trading day, whereas the price of shares stood at Rs. 40.728 billion against Rs. 48.430 billion on the last trading day. As many as 487 companies transacted their shares in the stock market, 240 of them recorded gains and 216 sustained losses, whereas the share price of 31 companies remained unchanged.