PSX Settles at Fresh Record High After Crossing 187,000 Level
The Pakistan Stock Exchange (PSX) continued its impressive bullish run from the previous week, demonstrating robust investor confidence. Throughout the session, investors remained firmly in control. Consequently, the benchmark index surged to an intraday high of 2,783 points, ultimately closing strongly at an unprecedented 187,761. In essence, this signifies a substantial gain of 2,662 points, or 1.44 percent, marking a fresh record high for the exchange.
Understanding the Market Momentum: Factors Driving the PSX Record High
Investor sentiment remained notably upbeat, primarily fueled by strong expectations of an imminent interest rate cut. Indeed, market participants increasingly priced in a 50 basis points (bps) reduction in the upcoming monetary policy. This optimistic outlook sustained robust buying interest and underpinned broad-based gains across the market. Furthermore, this positive sentiment reinforced the market’s upward momentum.
Key Stocks and Investor Interest
Adding to the prevailing optimism, several select stocks captured significant investor attention. These included NML, AICL, IGIHL, and LUCK. Topline’s recent report highlighted these companies as trading at attractive discounts to their Sum-of-the-Parts (SOTP) valuations, further boosting buying interest.
Top Traded Stocks and Market Activity
Below is a snapshot of some of the top-traded stocks during this historic session:
| SCRIP | PRICE | HIGH | LOW | CHANGE | VOLUME |
|---|---|---|---|---|---|
| BML | 5.45 | 5.7 | 5.03 | -0.58 | 246,263,366 |
| PIBTL | 22.59 | 22.97 | 21.06 | 1.66 | 104,625,115 |
| KEL | 6.55 | 6.65 | 6.45 | 0.15 | 63,311,050 |
| AHCL | 18.2 | 18.8 | 18.1 | -0.01 | 36,646,592 |
| PAEL | 62.73 | 64.05 | 62.39 | 0.04 | 35,774,076 |
| WTL | 1.74 | 1.79 | 1.73 | 30,455,271 | |
| CNERGY | 7.74 | 7.9 | 7.6 | 0.12 | 27,787,584 |
Index Contributors and Overall Performance
Furthermore, several key players significantly contributed to the index’s stellar performance. ENGROH, UBL, HUBC, FFC, MEBL, and SRVI emerged as the top contributors, collectively adding a remarkable 1,554 points to the benchmark index.
Market Volumes and Leading Stocks
Despite the benchmark’s impressive gains, overall trading activity remained relatively subdued. Total market volumes recorded 1,195 million shares, with the value of shares traded amounting to Rs. 63.7 billion. Notably, BML led the volume chart, emerging as the most actively traded stock with a massive 246 million shares changing hands. This indicates focused activity even amid broader market trends.
