Another Day, Another High: KSE-100 Crosses 61,000 Mark With 1,160 Points Gain

The Pakistan Stock Exchange (PSX) rallied to a new all-time high on Friday, surging past the previous record of 60,531 and breaching 61,000 points. After opening trade, the benchmark KSE-100 index went up by 1 percent or 590 points at 11:40 AM to a new high of 61,121. At 2:40 PM, it clocked in at 61,269, up 1.22 percent or 738 points. At 2:50 PM, the KSE-100 index surged by 1.51 percent or 915 points to hit 61,446 points. It settled with a gain of 1,159 points closing at 61,691. The KMI 30 index gained 2,530 points settling at 104,230, while the KSE All share index inched up by 721 points to close at 41,045. Key index-heavy stocks that had also attracted foreign buying the previous day continued their upward momentum. Overall, the market experienced robust activity, with a total trading volume of 531 million shares, amounting to a value of Rs. 21.5 billion. The highest participation was witnessed in Maple Leaf Cement Factory Limited (PSX: MLCF) with over 43 million shares traded, followed by Pak Elektron Limited (PSX: PAEL) and Fauji Fertilizer Bin Qasim Limited (PSX: FFBL). The scrips had 39.7 million shares and 27.5 million shares traded, respectively. Notably, the KSE 100 Index gained ~17 percent in November, attributable to sentiments due to Staff level agreement with IMF, encouraging decline in yields on treasury bills held during the month, and the highest foreign corporate buying in more than 4 years.