PSX Closes At New All-Time High After Market Activity Hits 7.5 Year High

The Pakistan Stock Exchange (PSX) achieved another milestone as market activity surged to a 7.5-year high after the main bourse closed at 103,274, with a traded value of Rs. 47 billion ($169 million). According to Arif Habib Limited, this marks the highest activity in the regular market since 31 May 2017 (MSCI reclassification day). Excluding that day, it is the highest traded value recorded since 9 April 2008, nearly 17 years ago. The KSE-100 index jumped by 1,917 points or 1.89 percent to 103,274 points as compared to Friday’s close of 101,357. This remarkable performance reflects a 65% increase CY24TD and a staggering 32% rise since June’24 Today’s close also reflects a 65 percent increase CY24TD and a staggering 32 percent rise since June 2024, according to AHL. A total of 1,556,252,523 shares were traded during the day whereas the price of shares stood at Rs. 47.097 billion. As many as 461 companies transacted their shares in the stock market, 338 of them recorded gains and 85 sustained losses, whereas the share price of 38 companies remained unchanged. Buying activity was observed in major sectors, including automobile assemblers, cement, commercial banks, fertilizer, oil and gas exploration companies, oil marketing companies (OMCs), and refineries. Index-heavy stocks such as HUBCO, PRL, NRL, SNGPL, SSGC, OGDC, PPL, MCB, MEBL, and NBP traded in the green, contributing to market gains. Market experts attributed the positive sentiment to expectations of lower inflation readings for November, fueling optimism about a potential policy rate cut in the upcoming Monetary Policy Committee (MPC) meeting. The three top trading companies were Worldcall Telecom Limited (PSX: WTL) with 213,514,857, Cnergyico PK Limited (PSX: CNERGY) with 196,907,321 shares and Fauji Foods Limited (PSX: FFL) with 68,325,507 shares.