PSX Gains Nearly 1,000 Points as Pakistan Clinches Trade Deal with U.S.

The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index continued with bullish trend on Thursday, gaining 978 more points, a positive of 0.71 percent, closing at 139,390 points against 138,412 points last trading day. Earlier today, Pakistan and the United States finalized a trade agreement aimed at boosting bilateral trade, expanding market access, attracting investment, and fostering cooperation in areas of mutual interest. The agreement will result in a reduction of reciprocal tariffs, especially on Pakistani exports to the United States. Moreover, in a major development U.S. President Donald Trump announced a deal with Pakistan to develop the country’s oil reserves. A total of 577,348,593 shares were traded during the day as compared to 425,836,625 shares the previous trading day, whereas the price of shares stood at Rs. 36.348 billion against Rs. 24.999 billion on the last trading day. As many as 483 companies transacted their shares in the stock market, 235 of them recorded gains and 215 sustained losses, whereas the share price of 33 companies remained unchanged. The three top trading companies were Bank of Punjab with 82,936,839 shares at Rs. 14.06 per share, Invest Bank with 37,156,865 shares at Rs. 8.99 per share and Oil and Gas Dev. with 24,206,621 shares at Rs. 233.01 per share. Unilever Pakistan Foods Limited witnessed a maximum increase of Rs. 477.94 per share price, closing at Rs. 33,497.96, whereas the runner-up was Pakistan Services Limited with Rs. 36.02 rise in its per share price to Rs. 1,015.01. PIA Holding Company Limited witnessed a maximum decrease of Rs. 2,542.49 per share closing at Rs. 28,756.51 followed by SS Oil Mills Limited with Rs. 60.84 decline in its share price to close at Rs. 730.24.