Bulls Take Charge On PSX With KSE 100 Index Surging By 800 Points
Strong Start for PSX
The Pakistan Stock Exchange (PSX) started the week strong, with the 100-Index rising by 807.42 points to reach 86,057.52 points on Monday. This increase shows that investors are confident and optimistic about the market, even with global economic uncertainties.
Increased Trading Activity
Trading activity increased significantly compared to the previous session. A total of 474,949,535 shares were traded on Monday, up from 323,919,892 shares in the last session. The total value of shares traded also rose, reaching Rs. 19.659 billion compared to Rs. 15.679 billion the day before. This jump in both the number of shares and their value shows that more investors are interested in participating in the market.
Broad-Based Gains Across Companies
A total of 445 companies traded shares on the PSX, with most seeing gains. Specifically, 269 companies had rising stock prices, while 124 companies faced losses. The share prices of 52 companies stayed the same during the trading session. This widespread buying across different sectors helped maintain the positive momentum, with several companies showing high trade volume and price increases.
Active Stocks Highlight Market Diversity
Kohinoor Spinning was the most active stock of the day, with a trade volume of 59,101,441 shares priced at Rs. 8.81 each. Pak International Bulk followed with 27,872,708 shares traded at Rs. 7.05 per share. Flying Cement came in third, with 18,493,294 shares traded at Rs. 19.80 per share. The strong activity from these companies highlights the diverse nature of the market rally, showing that investors are interested in various sectors.
Top Performers in Price Appreciation
Unilever Pakistan Foods Limited was the top performer for price appreciation, with its share price rising by Rs. 212.49 to close at an impressive Rs. 17,740.64. Hoechst Pakistan Limited also saw a significant increase, with its stock climbing by Rs. 127.77 to close at Rs. 23,469. These gains indicate strong fundamentals and investor confidence, especially in the fast-moving consumer goods (FMCG) and pharmaceutical sectors, which have remained resilient amid economic challenges.
Summary of PSX Performance
In summary, the PSX 100-Index showed a strong bullish trend on Monday, with notable gains in both the index and trading volumes. This performance highlights positive sentiment among investors, driven by optimism in key sectors. With many companies reporting gains and high-value trades occurring, the PSX continues to be an appealing platform for investors looking for growth opportunities in Pakistan’s stock market.
