PSX Posts Highest-Ever Single-Day Gain of Almost 4,700 Points, Nears 100,000 Milestone

A day after witnessing the biggest ever single-day decline, the benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) rose by 4,695.09 points or 4.73 percent on Wednesday to close at 99,269.25 points as compared to 94,574.16 points on the last trading day. Brokerage House Topline Securities said the market’s positive sentiment was largely driven by the Pakistan Tehreek-e-Insaf’s (PTI) decision to end its protest in Islamabad.  In terms of market capitalization, yesterday’s decline of Rs. 480 billion was followed by an exceptional increase of Rs. 526 billion today, marking the second-highest single-day surge in history, it said.  The trading floor witnessed robust buying activity, with the index-heavy banking sector leading the charge. Other significant contributors included automobile assemblers, oil and gas exploration companies, oil marketing companies (OMCs), and power generation firms, Topline said.  Top contributors to the index’s upward trajectory were FFC, HBL, SYS, BAHL, and PPL, collectively adding 1,546 points, it added.  A total of 1,057,104,968 shares were traded during the day as compared to 1,113,617,710 shares the previous trading day, whereas the price of shares stood at Rs. 39.556 billion against Rs. 43.165 billion on the last trading day.     As many as 450 companies transacted their shares in the stock market, 354 of them recorded gains and 51 sustained losses, whereas the share price of 45 companies remained unchanged.