PSX increases in fresh top on the second day of strong profits

The Pakistan Stock Exchange (PSX) on Tuesday watched strong momentum for a second consecutive day, leading the reference index to a new high record.

By the middle of the day, the reference index had increased even further, touching an intravenous high of 166,556.29 before it was installed to 165,774.16. The race added 1,926 points compared to the previous closure of 163,847.68.

Market activity remained alive, with the volume of transactions recorded in nearly 390 million shares, valuing transactions over RS39.5 billion. The low day was 164.208.33. Analysts have attributed profits to a strong investment feeling, fueled by positive expectations of the financial front and the institutional market.

The negotiation opened with a profit of 940 points, lifting the KSE-100 index to 164,787 points during the intravenous transaction. The momentum remains positive, with the index so far rising by 1,296 points to 165,144 points.

The race is based on Monday’s meeting when the market also published significant profits and put fresh high.

Reading: Stocks jump on fresh top over IMF criticism

Earlier on Monday, the Pakistan Stock Exchange (PSX) opened a week in an extremely powerful note, as the KSE-100 index increased 1,591 points to book a new record high at 163,848.

The interest market remained strong, especially in attractive stocks, pressing the index at the top of 163,904, while the low day was at 162,059. There was lively activity, reflected in high volumes of 1.3 billion shares.

Investors have drew support from the visit of a mission from the International Monetary Fund (IMF) for the second review of the EXTENDED FUND (EFF) of $ 7 billion and the first ratings in the RSF Unit (RSF).

Arif Habib Limited (AHL), in her comment, wrote that stocks made a steady start for the week with the KSE-100 index earning 0.98% to the day and reaching a high of 163.9k in the inter-business trading.

About 60 shares increased, while 40 declined, where Fauji Fertilizer Company (+3.1%), Pakistan’s oil (+6.16%) and HBL (+2.51%) contributed the most index profits. In contrast, Engro Holdings (-0.66%), Lucky Cement (-0.73%) and DG Khan Cement (-2.52%) were the biggest signals, he said.

Among the corporate news, Ghandhara Automobiles (+0.04%) announced the profits per share (EPS) of RS71.85, the UP 11X Year-on-Year (Yoy) and the dividend per share of RS10, which was above expectations.

In addition, Air Link ( +10%) communication announced the FY25 EPS of RS12.01, +3% on a yearly basis and the dividend per share of the RS7, which also won expectations. AHL estimates that the weekly draw will remain at 165K with support to 162k.