PSX surges as KSE 100 index crosses 38,000 points

KARACHI: The Pakistan Stock Exchange (PSX) urged on Monday as investors increased and regained the 38,000 points which it has momentarily gained last week.

The KSE 100 index surged by 613.54 points and ended the day at 38,221.16 points. The indices were on an upward trajectory as trading resumed on the first day of the week and kept rising during intra-day trading. The total volume of shares traded at the bourse was 183.913 million valued at Rs9.921 billion.

The lower bench KSE 30 index surged by 318.92 points and closed at 16,634.28 points. The total volume of scripts was 121.581 million. The KMI 30 index gained 963.91 points and closed at 60,911.52 points, while the All-Share Index gained 309.05 points and closed at 27,028.37 points.

The market leader was Pak Elektron Ltd (PAEL 6.50%) which market 28.921 million shares, followed by TRG Pakistan (TRG 7.50%) which traded 19.999 million shares, while Pakistan Refinery Ltd (PRL) saw a decline in share prices.

This was followed by Maple Leaf Cement Factory (MLCF 0.95%), Fauji Foods (FFL 1.90%), and Hascol Petroleum (HASCOL 0.96%). The firms traded 12.358 million, 9.030 million, and 8.521 million shares respectively.

The top contributor to the KSE 100 index was the commercial banking sector (133.70 points) while the paper and board sectors show the largest change in market capitalization (3.12%). On the economic front, the rupee appreciated against the US dollars and reached Rs166.3 in interbank market.

A net outflow of $8.55 mn was marked on July 24, while net outflow of US$71.26 mn was recorded in equities. T. Bills witnessed an outflow of US$51.15 million, whereas Pakistan Investment Bonds (PIB) received net inflow of $5.06 million. during the month of July. The net outflow during fiscal year was recorded at $117.36 million.