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The share prices at the Pakistan Stock Exchange (PSX) topped the historic high of 67,000 mark during trading on Wednesday, a day after the announcement of the State Bank’s Monetary Policy Committee (MPC) which kept the key policy rate unchanged at 22 percent.
The benchmark KSE-100 index surged by 703 points to 67,095 during the trading on Wednesday. Later profit-taking brought the index down a bit. Currently, it is being traded at 66,900 with an increase of 508 points.
At the bourse, a positive trend was witnessed in index-heavy sectors including cement, fertilizer, oil and gas exploration companies, OMCs, refinery, and power generation, while a mixed trend was seen in automobile and commercial bank sectors.
On Tuesday, the benchmark index had closed the session at 66,426.78, up by 414.46 points or 0.63%.
Experts said the bullish momentum came as overall economic indicators remain positive while investors have set their eyes on the International Monetary Fund’s (IMF) executive board meeting on Jan 11, 2024.
In a related development, Aramco, one of the world’s leading integrated energy and chemicals companies on Tuesday signed definite agreements to acquire a 40% equity stake in Gas and Oil Pakistan Limited.
On Tuesday, the volume on the all-share index decreased to 969.6 million from 1,216 million a session before. The value of shares also declined to Rs26.9 billion from Rs33.4 billion in the previous session.
WorldCall Telecom remained the volume leader with 98.8 million shares, followed by P.T.C.L. with 79.2 million shares and K-Electric Ltd with 66.7 million shares.
Shares of 385 companies were traded on Tuesday of which 244 registered an increase, 127 recorded a fall, and 14 remained unchanged.
