PSX Surges by Nearly 1,800 Points to Break 97,000 Barrier

The 100-Index of the Pakistan Stock Exchange (PSX) gained 1781.94 points (or 1.86 percent) on Thursday to close at the highest-ever level of 97,328.39 points as compared to 95,546.45 points on the last trading day.  A total of 969,907,357 shares were traded during the day as compared to 1,138,411,946 shares the previous trading day, whereas the price of shares stood at Rs. 35.167 billion against Rs. 37.481 billion on the last trading day.     As many as 455 companies transacted their shares in the stock market, 249 of them recorded gains and 165 sustained losses, whereas the share price of 41 companies remained unchanged.  Brokerage house Topline Securities said investor confidence was boosted following the Army Chief’s meeting with the business community. Additionally, aggressive buying in the fertilizer sector, particularly in FFC and FFBL, contributed to the positive momentum, it said.  Key contributors to the index’s upward movement included FFC, EFERT, ENGRO, FFBL, and OGDC, which collectively added 1,196 points to the index, Topline added.