PSX reaches an unprecedented peak of 122,000 amidst budget speculation.
The Pakistan Stock Exchange (PSX) sustained its bullish trajectory, with shares increasing by more than 300 points, achieving a new all-time high on Thursday.
The growing trend is driven by increasing hopes of economic stability in the country prior to the federal budget for the upcoming fiscal year 2025-26. There is optimism that the policy rate may be reduced further in the forthcoming review, contingent upon sustained stability.
The Asian Development Bank (ADB) recently issued a funding package of $800 million, which has also generated favorable market emotions.
During the intraday trading, the KSE-100 reached 122,281 points, the all-time high level, after gaining more than 300 points.
On the preceding day, the 100-Index increased by 1,347.99 points, reflecting a positive movement of 1.12 percent, and concluded at 121,798.87 points.
A total of 710,591,203 shares were exchanged today, compared to 578,163,611 shares on the previous trading day, while the share price amounted to Rs 35.216 billion, up from Rs 26.827 billion on the last trading day.
A total of 475 firms traded shares on the stock market, with 264 experiencing gains, 170 incurring losses, and the share prices of 41 companies remaining stable.
The three top trading companies were Sui South Gas with 51,634,991 shares at Rs 38.42 per share, Fauji Foods Limited with 51,388,381 shares at Rs 16.75 per share and K-Electric Limited with 41,397,930 shares at Rs 5.41 per share.
