KSE-100 jumps over 4,000 points in broad rally

Autos, fertilisers, banks, cement, oil sectors see notable buying interest as overall trading volume stands at 397m

KARACHI:

Investor sentiment remained firmly upbeat at the Pakistan Stock Exchange (PSX) on Wednesday as sustained buying momentum powered the benchmark KSE-100 index higher in a broad-based rally.

During the session, the index climbed to an intraday high of 154,684.45 and touched a low of 150,284.26. By around 1:00pm, gains stood at approximately 2.49%, reflecting steady investor confidence throughout the day.

Read: PSX rebounds on blue-chip buying

By the close, the benchmark index surged 4,276.09 points, or 2.85%, to settle at 154,292.26, marking a continuation of the ongoing bullish trend.

Market activity remained robust, with notable buying interest seen in automobile assemblers, cement, commercial banks, fertiliser, oil and gas exploration companies, oil marketing companies (OMCs), along with power generation and refinery sectors, indicating widespread participation across the board.

Read More: PSX tumbles 4,687 points in pre-Eid sell-off

Overall trading volume stood at 397.4 million compared to Tuesday’s tally of 260.4 million, while the value of traded shares stood at Rs22.3 billion.

Shares of 483 companies were traded of which 339 closed higher, 79 fell and 65 remained unchanged. The Bank of Punjab was the volume leader, with trading in 54.8 million shares, rising Rs1.76 to close at Rs27.55.