PSX continues rally as benchmark index jumps past 152,000

Index touched intra-day high of 152,383.82, low of 151,320.49

The Pakistan Stock Exchange (PSX) extended its record-breaking rally on Wednesday, with the benchmark KSE-100 index surging 1,317.85 points, or 0.87%, to 152,293.33 during intra-day trading.

The index touched an intra-day high of 152,383.82 and a low of 151,320.49 during the ongoing session.

Market participation remained strong, with trading volume recorded at 139.4 million shares. The total value of transactions stood at Rs14.33 billion.

The latest surge follows Tuesday’s close of 150,975.48.

Earlier on Tuesday, the KSE-100 index surged 1,004 points, or 0.67%, to 150,975, driven by improved macroeconomic indicators and stock buying in attractive sectors.

Read: Bull-run continues on economic cues

Reporting the latest trade numbers, the Pakistan Bureau of Statistics (PBS) announced a trade deficit of $2.88 billion in August, a 9% month-on-month contraction compared with July's deficit of $3.15 billion.

In its report, Arif Habib Limited (AHL) said that the intra-day high of 151k brought the KSE-100 within striking distance of the 151.2k weekly target flagged during last week's consecutive negative sessions.

Topline Securities stated that the rally continued as the market maintained a strong momentum throughout the day. As a result, the benchmark index surged 1,105 points during intra-day trading, before closing at 150,975, up 1,004 points, or 0.67%.

The Bank of Punjab topped the volumes chart with trading in 174.4 million shares, gaining Rs1 to close at Rs17.58. It was followed by Pak Electron with 52.7 million shares, losing Rs0.07 to close at Rs52.47 and First National Equities with 39.8 million shares, sliding Rs0.40 to close at Rs6.64.