PSX Gains Over 1,000 Points on Strong Corporate Earnings

The 100-Index of the Pakistan Stock Exchange (PSX) gained 1,067 points on Monday, a positive change of 0.91 percent, closing at 118,383.38 points as compared to 117,315.59 points on the last trading day. A total of 672,443,910 shares were traded during the day as compared to 425,121,963 shares the previous trading day, whereas the price of shares stood at Rs. 36.424 billion against Rs. 34.495 billion on the last trading day. As many as 451 companies transacted their shares in the stock market, 252 of them recorded gains and 158 sustained losses, whereas the share price of 41 companies remained unchanged. Brokerage house Topline Securities said today’s rally was largely driven by better-than-expected corporate earnings, which bolstered investor sentiment and sparked widespread buying. Heavyweight stocks played a crucial role in powering the index higher, with MEBL, MCB, UBL, SNGP, and HUBC collectively contributing 827 points, underscoring their substantial influence on market direction, the brokerage house said.