PSX Breaks All Records As KSE-100 Crosses 59,000 For The First Time Ever

The Pakistan Stock Exchange (PSX) rallied to a new all-time high on Friday, surging past the previous record of 58,899. After opening trade, the benchmark KSE-100 index went up by 1 percent or 599 points at 10:10 AM to a new high of 59,499. At 2:33 PM, it clocked in at 59,407, up 0.86 percent or 507 points. It settled with a gain of 186 points closing at 59,086. The KMI 30 index dropped 180 points settling at 100,002, while the KSE All share index inched up by 85 points to close at 39,559. Overall, the market experienced robust activity, with a total trading volume of 658 million shares, amounting to a value of Rs. 22 billion. The highest participation was witnessed in Worldcall Telecom Limited (PSX: WTL) with over 66 million shares traded, followed by Pakistan International Bulk Terminal (PSX: PIBTL) and TPL Properties Limited (PSX: TPLP). The scrips had 38.9 million shares and 27.4 million shares traded, respectively. Globally, oil prices dipped (16:00 PKT) on Friday after mixed signals from oil producers and negative sentiments coming out of the Middle East. Brent crude was up by o.22 percent or $0.18 to $81.6 per barrel while WTI crude fell by $0.49 or 0.64 percent to $76.61 per barrel.