KSE-100 surges 1,537 points amid easing trade tariffs

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KARACHI: The Pakistan Stock Exchange (PSX) recorded a strong recovery on Monday amid ease in the global trade war and encouragement remittance data. The Benchmark’s SE -100 index increased by 1,537 points after the smartphones and computers were exempt from new prices.

The benchmark KSE-100 index increased from 114,853.33 points to 116,390.7 points, up from 114,853.33 points in the last session, to 116,390.04 points to 1,536.7 points or 1.34 percent. The highest index of the day was 116,494.2 points, while the lowest level was recorded at 115,246.21 points.

Arif Habib Corporation analyst, Ahsan Mahani, said, “The chief of the SBP staged a stock rally on PSX in the board headed by scripts on the board, after reporting data for $ 4.1 billion in record remittances in March.” He said the government’s decision to avoid a bull, rise in global crude oil prices and retaliation on US tariff Levies played a vital role in the PSX in the global equity.

The KSE -30 index increased by 479.12 points or 1.36 percent to 35,217.14 points to 35,696.26 points. Trade shares increased by 458.589 million shares by 26 million shares by 484.547 million. Trade value dropped from Rs 31.628 billion to Rs 27.43 billion. Market Capital increased by Rs 14.114 trillion to Rs 14.252 trillion. Of the 455 companies operating in the session, 247 were closed in green, 145 red and 63 changed. Topline securities analyst Mazl Millah said the bills were strong in the trading session when the benchmark index took a strong advantage. “The pace of excitement was largely running through the expected internal remittances, which has significantly strengthened investors’ sentiments,” he said.

Further cooperation came from a widespread positive trend in regional markets, which encouraged local investors to re -enter key sectors and build fresh positions. Most positive speed is driven by remarkable benefits in heavyweight stock, which helps 1,178 points in the UBL, Destiny, HUBC, Engroh, and EFert collectively 1,178 points.

In terms of trade costs, fate (Rs 1.7 billion), HUBC (Rs 1.6 billion), Marie (Rs 1.5 billion), PSO (RSS867 million rupees), and PAEL (Rs 816 million) emerged as the most actively trading counter. PIA Holding Company Limited B recorded the highest increase, which increased from Rs 132.95 to Rs 1,462.40 per share, followed by Nestlé Pakistan Limited, which increased by Rs 10,173.33 per share to Rs 7,173.33. A significant reduction was noted in Hochast Pakistan Limited, which was reduced by Rs 888.96 to Rs 3,233.01 per share. Indus Motor Company Limited followed it, which closed from Rs 19.52 to Rs 1,999.51 per share.

The rally was fueled in several fields by buying in a broaderbin in several fields, with Hibo, OGDC, and banking leaders, such as heavyweight stocks such as heavyweight stocks, said Mohammad Hassan Athar, a JS Global analyst.

“Global emotions have improved after the exemption of smartphones and computers from new rates,” he said.

Sarnarigiko PK remained the volume leader with 55.091 million shares, which closed at a maximum of Rs 8.64 per share. Pure Int Bulk, with 45.232 million shares, followed it, which closed at Rs 10.86 per share by 50 bucks.

In the second major business, Sui South Gas, Bo Punjab, Pak Electron, Dewan Cement, K Electric Limited, World Calle Telecom, Pak Stock Exchange and Hub Power Company, 325 companies recorded trade recording, of which 229 increased, 93 declined, and 3 were not changed.