FLASHNEWS:

Pakistan Stock Exchange Sees Bullish Trend as KSE100 Index Climbs

Karachi, The Pakistan Stock Exchange (PSX) demonstrated a bullish trend today as the KSE100 index rose to 74,531, marking a gain of 732 points day-over-day. This positive movement in the market is attributed to investor shift towards equities following the government’s decision to lower National Savings Schemes (NSS) rates.

According to JS Global, the trading volume reached 574 million shares with CNERGY, WTL, KEL, PAEL, and FFL leading in volume. The firm predicts the continuation of this bullish momentum and advises investors to focus on sectors such as Cement, Textiles, and Pharmaceuticals for potential gains. Key contributors to the index’s performance included PSX, which rose by 8.55%, and THALL, up by 7.50%. In contrast, sectors like textiles and materials saw minor declines with GATM and CNERGY experiencing drops of 2.44% and 2.32% respectively.

The overall market capitalization of PSX increased to Rs. 10,037.16 billion, showing a day-over-day growth of 0.79%. The increase aligns with the broader year-to-date improvements, with the KSE100 index up by 19.34% since the start of the calendar year. The report emphasizes that despite occasional fluctuations, the long-term trend remains robust, reflecting investor confidence and a conducive market environment.