PSX fluctuates as KSE-100 Index holds steady above 110k

Boost also came as participants of the Islamic Capital Market Conference rang the gong to signal beginning of business

The Pakistan Stock Exchange (PSX) witnessed a positive session on Wednesday, with the KSE-100 Index rising by 1,493 points, or 1.37%, to close at 110,390.

The market opened with strong momentum and reached a high of 111,005 during the trading session, before settling at its final position.

The boost also came as participants of the Islamic Capital Market Conference and Expo rang the gong to signal the beginning of business.

Dr. Shamshad Akhtar, a prominent figure in Islamic finance, addressed the conference, acknowledging the achievements of the sector but also highlighting the ongoing challenges.

Islamic finance has made significant strides, but there are hurdles to overcome in order to further integrate it into global financial markets.

Moreover, during the trading session, the index briefly touched a high of 110,608, further highlighting the optimism in the market. The trading day’s positive momentum follows a slightly lower close on the previous day, when the index ended at 108,896 points.

The opening of the conference at PSX has been seen as a symbolic gesture to promote Islamic finance and capital markets in Pakistan, setting the tone for the remainder of the trading day.

Trading volumes were robust, with over 235 million shares changing hands, reflecting increased investor activity. The market value for the day amounted to approximately 16.43 billion Pakistani rupees.

The index’s strong performance came after a relatively modest closing of 108,896 on the previous day. Investor sentiment seemed buoyed by positive market conditions, as the KSE-100 continued its upward trajectory despite market fluctuations earlier in the week.

As intra-day trading continues, the index has fluctuated between a low of 109,416 and a high of 111,005, showcasing a dynamic trading environment.