The Pakistan Stock Exchange’s (PSX) 100-index continued its upward momentum on Wednesday, rising by 680.78 points or 0.86% to close at a historic 80,233.67 points.
Buying was observed in key sectors such as cement, chemicals, commercial banks, oil and gas exploration companies, OMCs, and refineries. Major stocks including HBL, MCB, NBP, OGDC, PPL, PSO, SHEL, SNGPL, SSGC, and PRL traded positively.
The PSX benchmark index has rallied over 10% since the FY25 budget was presented on June 12, driven by optimism over securing an International Monetary Fund (IMF) bailout package to support the struggling economy.
The trading volume increased to 536.58 million shares compared to 413.15 million shares the previous day, with the total value of shares rising to Rs 22.72 billion from Rs 16.60 billion. In total, 447 companies traded their shares, with 256 recording gains, 135 sustaining losses, and 56 remaining unchanged.
Pak Elektron led the trading with 34.59 million shares at Rs 26.75 per share, followed by B.O. Punjab with 31.47 million shares at Rs 5.40 per share, and National Bank XD with 21.22 million shares at Rs 44.33 per share.
Nestle Pakistan Limited saw the highest increase in share price, rising by Rs 129.41 to close at Rs 7,060.41. Philip Morris (Pakistan) Limited followed with a Rs 54.80 increase, closing at Rs 663.71.
On the downside, Unilever Pakistan Foods Limited experienced the largest decrease, dropping by Rs 134.99 to Rs 18,162.50. Rafhan Maize Production Company Limited also saw a decline, with its share price falling by Rs 82.36 to close at Rs 7,517.64.
On Tuesday, the index surpassed the 79,000 milestone for the first time in its history. Analysts attributed the bullish trend to rising global crude oil prices, anticipated strong dividend payouts by state-owned enterprises in the oil sector, and ongoing positive discussions for an International Monetary Fund (IMF) bailout deal this month.
