PSX Races Past 108,000 Mark After Another Monstrous Single-Day Increase 

The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) gained 3,134.63 points on Thursday to close at an all-time high of 108,238.96 points, up 2.90 percent over the previous closing.  The over 3,000-point increase represents the third highest-ever single-day gain, with the top also coming during the current year.   According to brokerage house Arif Habib Limited, the market activity surged to a 19 year high, with a traded value of over Rs. 63 billion ($227 million). This marks the highest activity in the regular market since 17-Apr-2006, AHL said. Brokerage house Topline Securities highlighted that the rally was predominantly driven by relentless buying from local mutual funds, which acted as the primary catalyst for sustaining the bull run. Blue-chip stocks and high-capitalization sectors spearheaded the advance, with major contributions from MARI, FFC, HUBC, UBL, PPL, and LUCK, collectively adding 1,303 points to the index’s stellar performance, it added. A total of 1,645,112,614 shares were traded during the day as compared to 1,749,316,877 shares the previous day. The price of shares stood at Rs. 63.104 billion against Rs. 50.41 billion on Wednesday.   As many as 472 companies transacted their shares in the stock market, 306 of them recorded gains and 129 sustained losses, whereas the share price of 37 companies remained unchanged.