The Pakistan Stock Exchange (PSX) continued its upward momentum on Tuesday, with the benchmark KSE-100 Index crossing the 150,000-point mark, reflecting renewed investor confidence despite ongoing flood warnings in Sindh.
During intraday trading, the KSE-100 Index surged by 738.87 points, or 0.49%, to close at 150,709.99 points.
Out of 434 companies traded, 262 saw their share prices rise, 153 declined, and 19 remained unchanged.
Investor sentiment was further boosted after Finance Minister’s Advisor Khurram Shehzad announced the early retirement of Rs2,600 billion in debt including Rs1.6 trillion owed to the State Bank of Pakistan within just 59 days, a historic move enhancing fiscal credibility.
The market also reacted positively to Pakistan’s Consumer Price Index (CPI) for August, which fell to 3% from 4.1% in July, well below analysts’ expectations.
This unexpected data spurred buying across multiple sectors.
On Monday, the KSE-100 had also posted gains of 1,353.34 points (0.91%), closing at 149,971.12 points.
A total of 1.18 billion shares were traded on Tuesday, compared to 1.34 billion on Monday, with the total turnover at Rs48.849 billion versus Rs52.305 billion previously.
The top three trading companies were B.O. Punjab with 97,697,793 shares at Rs16.58 per share.
K-Electric Limited with 85,903,125 shares at Rs5.43 per share, and Pervez Ahmed Co. with 54,520,834 shares at Rs3.04 per share.
PAI Holding Company LimitedB witnessed a maximum increase of Rs 301.00 per share price, closing at Rs 27,300.00, whereas the runner-up was Hoechst Pakistan Limited with Rs216.81 rise in its per share price to Rs4,026.63.
Unilever Pakistan Foods Limited witnessed a maximum decrease of Rs 920.32 per share closing at Rs 32,701.00 followed by Nestle Pakistan Limited with Rs 77.20 decline in its share price to close at Rs 8,439.18.
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