KSE-100 Index crosses 172,000

Summary: The Pakistan Stock Exchange recorded a strong rally on the third trading day of the week. The KSE 100 Index rose 3,994.62 points to close at 172,013.48 points, while the Sharia-compliant KMI 30 Index rose 5,817.20 points to 246,398.18 points. 839.4 million shares were traded in the market, valued at Rs 35.35 billion.

Karachi: The Pakistan Stock Exchange recorded a strong rally on Wednesday, the third trading day of the week, where the benchmark KSE-100 Index crossed the 172,000 level by increasing by almost 4,000 points, while the Sharia-compliant KMI-30 Index also increased by 2.42%.

At the end of trading, the KSE-100 Index closed at 172,013.48 points after increasing by 3,994.62 points, or 2.38%. The index had closed at 168,018.86 points in the previous trading session.

During trading, the index reached a high of 172,286.99 points, while its low was 168,355.26 points.

On the other hand, the KMI-30 Index, which shows the performance of Sharia-compliant companies, also closed with a significant increase. The index increased by 5,817.20 points, or 2.42 percent to reach 246,398.18 points.

In the previous session, the KMI-30 Index closed at 240,580.98 points. During the trading session, its highest level was 246,990.81 points, while the lowest level was 240,888.54 points.

A total of 839.4 million shares were traded in the market, worth about Rs 35.35 billion. During the trading session, the share prices of 334 companies increased, 88 decreased, while the share prices of 23 companies remained unchanged.

A positive trend also prevailed in various sectors of the market. The textile weaving sector remained at the top of the sectors, showing significant performance with a growth of 4.63 percent.

The rise of more than 2% in both the KSE-100 and KMI-30 indices indicated a broad-based improvement in the stock market. However, the performance of the upcoming trading sessions will also be important to consider the one-day rally as a sign of a permanent recovery.