PSX Gains Nearly 1,000 Points to Close Just Shy of 120,000 Level

The 100-Index of the Pakistan Stock Exchange (PSX) witnessed a bullish trend on Wednesday, gaining 960.33 points, a negative change of 0.81 percent, closing at 119,931.46 points as compared to 118,971 points on the last trading day. Brokerage firm Topline Securities highlighted that PSX kicked off the day with a positive rally, as the benchmark index soared past the 120,000 milestone, marking an intraday high of 1,135 points. However, the index couldn’t hold on to the momentum and closed just shy at 119,931 points. Investor sentiment remained upbeat, particularly in large-cap stocks, which drew considerable interest. Notably, NBP, BAHL, UBL, OGDC, and PPL collectively contributed around 480 points to the index’s rise, it added. A total of 667,685,585 shares were traded during the day as compared to 437,920,561 shares the previous trading day, whereas the price of shares stood at Rs. 26.624 billion against Rs. 20.811 billion on the last trading day. As many as 463 companies transacted their shares in the stock market, 287 of them recorded gains and 125 sustained losses, whereas the share price of 51 companies remained unchanged. The three top trading companies were K-Electric Limited with 103,655,617 shares at Rs. 4.75 per share, Kohinoor Spining with 40,320,997 shares at Rs. 5.75 per share and WorldCall Telecom with 36,278,201 shares at Rs. 1.27 per share. PIA Holding Company LimitedB witnessed a maximum increase of Rs. 1,507.38 per share closing at Rs. 16,581.16 whereas runner-up was Rafhan Maize Products Company Limited with Rs. 220.69 rise in its share price to close at Rs. 10,462.44. Bhanero Textile Mills Limited witnessed a maximum decrease of Rs. 32.83 per share price, closing at Rs. 704.59, whereas the runner-up Sapphire Fiber Limited with Rs. 26.02 decline in its per share price to Rs. 1,023.98.