PSX hits new high -dynamic season new

The Pakistan Stock Exchange (PSX) continued its upward dynamic on Wednesday, with the KSE-100 reference index hitting another record.

The market opened with a 121 -degree dip, pulling the index down to 156,411 units. However, the Bullish Sentiment returned soon, lifting the index by 456 points to a new peak of 157,028 points during intravenous trading.

The match continued as the index climbed 465 and later 675 points, reaching a new high level of 157,238 and 157,349 points, respectively.

Market analysts have attributed the steady momentum for strong investor confidence, which has kept the bourse in a record-wide series last week.

Reading: PSX expands the winner row, hits record

Earlier on Tuesday, the PSX saw no sign of deceleration on swollen running, as investors continued to accumulate shares while receiving slogans from stellar corporate profits and optimistic market prospects.

The KSE-100 reference index increased to a new high high of all time 156,563.53, higher by 476.22 points or 0.31%, compared to the closure of the previous day.

After a sinking to the low intra -endors of 155,044.26 earlier a day, the index was quickly recovered and touched the day of 157,088.81.

The market then remained in the positive zone for the rest of the day, completing the session with moderate profits slightly smaller than 500 points.

Ktrade Securities commented that the PSX maintained its potential, as the reference index increased by 476 points to close to 156,564. The investment feeling remained positive, largely from impressive fertilizer and banks, he said.

Significant contributors to the rally were Engro Holdings, Fauji Fertilizer, Meezan Bank, Mari actions, Engro fertilizers and the National Bank. Ktrade noted that the Stock Exchange remained durable after investor confidence in Pakistan’s long -term financial prospects, supported by the improvement of fundamental elements and specialized power in the sector.

Topline Securities noted that the momentum remained strong at Tuesday’s trade meeting, where the market continued its upward orbit.

The leading winners, Engro farms, Fauji fertilizers, Meezan Bank, Mari actions and Engro fertilizers were collectively added 886 points to the index, he said.

During the day, shares of 478 companies were negotiated. Of these, 154 stocks closed higher, 291 lost territories and 33 stood unchanged.