The Pakistan Stock Exchange (PSX) closed on a stable note on Wednesday, following a record high in the previous session. The KSE-100 Index, after opening around 169,000, gained momentum early in the session, reaching an intra-day high of 170,697.74. However, profit-taking in the latter part of the session led to a slight dip, with the index closing at 169,451.86, down 4.52 points.
Key stocks such as MLCF, LUCK, ISL, FCCL, and PIOC supported the index, contributing a total of 498 points. On the other hand, declines in FFC, SRVI, and PPL led to a loss of 380 points, as noted in Topline Securities’ post-market report.
Despite the slight decrease, the market remains positive after a strong rally on Tuesday, when the KSE-100 surged 1,153.14 points, or 0.69%, closing at 169,456.39.
In a significant development, the US Export-Import Bank approved $1.25 billion in financing for the mining of critical minerals at Reko Diq in Pakistan, further boosting economic optimism.
The Pakistani rupee saw slight improvement, gaining 0.01% to settle at 280.37 against the US dollar in the inter-bank market.
In terms of trading activity, volume on the all-share index rose to 1,190 million shares from 1,031 million, although the value of shares declined to Rs50.49 billion from Rs51.32 billion. Hum Network led the volume chart with 132.04 million shares, followed by Bank Makramah with 103.48 million shares, and TPL Properties with 52.37 million shares.
A total of 478 companies were traded on Wednesday, with 251 seeing gains, 188 experiencing losses, and 39 remaining unchanged.
