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Stock brokers monitor new on television screen at a booth, during a trading session at the Pakistan Stock Exchange, in Karachi, on July 3, 2023. — Reuters
#KSE100 #gains #points #surges #alltime #high
KARACHI: Pakistan Stock Exchange (PSX) witnessed a fast pace throughout the day. On Tuesday, the Benchmark’s SE -100 index increased by 1,573 points, as the Asian Development Bank (ADB) approved a $ 800 million loan for Pakistan. In addition, next week’s federal budget is expected in some sectors.
The KSE -100 points up to 120,450.87 points, rising by 1,573.07 points, or 1.32 percent, which increased from 118,877.81 points in the final session. The highest index of the day was 120.693.83 points, while the lowest level was recorded at 119,129.52 points.
Arif Habib Corporation analyst Ahsan Maheeni said, “The stock is closed at a timely height, which operates with a wide range of benefits throughout the board.
He said that the expected budget relief for the acquisition of oil refineries, real estate and agriculture sector and rupee played a vital role in the fast approaching PSX.
The KSE-30 index increased by 439.42 points or 1.22 percent to 36,144.59 points to 36,584.01 points.
The shares of the trade increased 81 million shares to 497.94 million shares to 587.163 million shares. The commercial value increased from Rs 23.45 billion to Rs 26.827 billion. Market Capital increased to Rs 14.444 trillion to Rs 14.593 trillion. Of the 467 companies operating in the session, 232 were closed in green, Red 187 and 48 did not change.
A market report from Topline Securities states that Bills has maintained a strong grip on the market, which has brought the KSE -100 index closer to a record at 120,450, supporting the new investors’ confidence and a better economic approach.
The index increased at a height of 1,816 points, when the news broke out rapidly that the ADB approved a loan of $ 800 million under Pakistan’s Public Finance Program, which is a major vote of confidence in the country’s economic reforms. In addition to further fuel to the rally, the IMF approved Pakistan’s budget proposals, and reinforced the ongoing financial discipline and hopes of continuity of policy.
The day -to -day rally was about to move key indexes. FFC, HBL, Effect, Luck, and Behl, who collectively added 691 points to the benchmark.
PIA Holding Company Limited B recorded the highest increase, which increased from Rs 35,231.20 to Rs 35,543.19 per share, followed by Khyber Textile Mills Limited, which increased by Rs 306.98 to Rs 3,376. Neelam Fibers Limited noted a significant reduction, which was reduced by Rs 57.89 to Rs 1,055.19 per share. Rafan Maize Product Company Limited followed it, which was reduced from Rs 35.12 to Rs 9,883.9 per share.
JS Global analyst Mubashir Anis Newwala said the benchmark index continued throughout the day, and the historical reached the height at all times. He advised, “At the usual high -time high -ranking, a breakout can lead to fresh pace and attract more entrepreneurship participation. We suggest that investors take advantage of it and invest in any intra -day bridge, in the field of fertilizer, cement and banking sectors.”
KK Electric Limited remained the volume leader with 144.646 million shares, which closed at Rs 5.32 per share by 23 money. With 26.656 million shares, the Fail Bank followed it, which was increased from Rs 4.89 to Rs 53.77 per share.
Other important stock stocks include Investment Bank, Military Foods Limited, Cohnova Spinning, World Calle Telecom, PTCL, Dewan Cement, Maple Leaf and Hub Power Company.
In the futures market, 314 companies recorded trade, of which 224 increased, 86 declined and 4 remained steadfast.
