KSE-100 Jumps 1,021 Points as Market Rebounds

Karachi: The Pakistan Stock Exchange ended trading on Thursday with a bullish trend and the KSE-100 index rose by 1,021 points to reach above the 169 thousand level again.

According to the data, the KSE-100 index closed at 169,043.19 points. The index recorded a 0.61 percent increase. On Wednesday, the KSE-100 index closed at 168,021.80 points.

The market picked up momentum after volatility in Thursday’s trading. The KSE-100 index hit a low of 168,222.91 points during the day, while at one point it reached 169,576.52 points. The buying trend continued at the end of trading.

Overall market activity was also notable. According to PSX, 571 companies traded shares. 296 companies gained, 152 declined, while 123 remained unchanged. A total of 386.36 million shares were traded, and the trading value was Rs 20.09 billion.

A few big stocks played a significant role in the KSE-100 rally. Pakistan Petroleum, United Bank, Murree Energies, Bank Alfalah and Habib Bank were among the prominent stocks supporting the index. On the other hand, the decline in shares of National Bank, Ghandhara Industries, Fauji Fertilizer, Pakistan Services and Engro Fertilizer put some pressure on the index.

The rally in the market was not limited to the KSE-100. The All Share Index rose by 687.69 points to 102,244.62 points. The KSE-30 index also closed at 50,297.78 points, up 306.30 points.

The Islamic index KMI-30 also saw strong buying. The index rose 1,662.76 points to close at 240,616.55 points. The KMI-30 touched a high of 241,175.11 and a low of 238,987.77 points during the day.

The overall picture of the trading day suggests that investor buying supported the market after the weakness of the previous session. However, it is premature to call the one-day rally a permanent trend. The trading volume and direction of major sectoral shares in the coming session will be crucial for the market’s further trend.