PSX briefly reaches new all-time high during intra-day trading

KSE-100 Index soars 960.72 points to record high of 82,930.00 before declining

The Pakistan Stock Exchange (PSX) hit another all-time high as the market saw a significant surge today during intra day trading, with the current index standing at 82,927.72, reflecting an increase of 960.72 points and a 1.17% rise.

The market opened strong and quickly reached a high of 82,930.00, while the low for the day was recorded at 81,981.50.

The trading volume was robust, with 96,960,121 shares exchanged, contributing to a total value of Rs8.35 billion.

This strong performance follows the previous close at 81,967.00 and signals continued investor confidence in the market.

Earlier, The Pakistan Stock Exchange (PSX) continued its upward trend on Wednesday, gaining 162 points amid positive indicators such as falling inflation, a stable rupee, declining global commodity prices, and growth in the agriculture sector.

The KSE-100 index rose 0.2%, closing at 81,967.01, after reaching an intra-day high of 82,360.28 points.

Early trading saw the index drop to an intra-day low of 81,529.45 points due to geopolitical tensions in the Middle East.

However, optimism returned with positive triggers like S&P's projection of a 200-basis-point policy rate cut in FY25, a 20% rise in petroleum sales in September, and a surge in global crude oil prices.

Top gainers included United Bank (+2.02%), Fauji Fertiliser (+1.22%), and MCB Bank (+1.25%), while Hub Power (-2.13%), Mari Petroleum (-2.36%), and Engro Fertiliser (-1.57%) were the major drags.

Overall, 448 companies traded, with 164 gaining and 221 declining. Trading volume rose to 360.99 million shares with a value of Rs15.4 billion.

Agha Steel Industries led the volume with 30.8 million shares traded, closing at Rs10.72. Foreign investors sold shares worth Rs1.49 billion.

Additionally, Pakistan's September exports rose 13.5% year-on-year, while imports grew 16.1%, widening the trade deficit to $1.78 billion from $1.75 billion in the previous month.

Despite volatility, analysts expect continued support at the 80,000-81,000 levels.