PSX Smashes All Records to Cross 100,000 Milestone
Wire desk byline Sourced from Xinhua, Dawn, Arab News, Anadolu and Minute Mirror. Translated and abridged by the GSRRA Desk.
The Pakistan Stock Exchange (PSX) on Thursday smashed all records and crossed 100,000 points for the first time in history after opening of the session at 9:30 AM as bulls continued to build momentum on yesterday’s ascent.
The KSE-100 index jumped by 790 points or 0.8 percent to 100,059 points as compared to yesterday’s close of 99,269.
“A remarkable 150% return from 40k to 100k in just 17 months! New IMF loan coupled with fiscal and monetary discipline improving investors sentiments. Moreover, faster than expected, fall in inflation and interest rates adding cash liquidity to the stock market,” CEO Topline Securities Mohammed Sohail commented.
He said, “Pakistan inspite of this rally trades at PE of 5x compared to the historical average of 7x From less than 1,000 points in the late 1990s to 100,000 today, market is up 100 times. 25 years of ups & downs, bull runs & bear runs, optimism & pessimism”.
Despite challenges, the market has generated the following returns in the last 25 years:
- 20 percent annual return in PKR
- 13 percent annual return in USD
121,277,809 shares were active on the exchange at the time of filing, and the price of shares stood at Rs. 2.77 million.
As many as 384 companies transacted their shares in the stock market, 320 of them recorded gains and 47 sustained losses.
The share price of 17 companies remained unchanged.
Top Volumes
| SCRIP | PRICE | HIGH | LOW | CHANGE | VOLUME |
|---|---|---|---|---|---|
| BOP | 8.85 | 8.85 | 8.18 | 1.0 | 65,778,460 |
| KEL | 5.44 | 5.47 | 5.26 | 0.29 | 6,648,707 |
| BML | 2.92 | 3.0 | 2.88 | 0.24 | 5,237,204 |
| SSGC | 25.3 | 25.6 | 25.25 | 0.42 | 2,793,846 |
| PACE | 6.5 | 6.59 | 6.45 | 0.16 | 2,125,965 |
| HASCOL | 13.05 | 13.1 | 12.3 | 0.46 | 2,099,177 |
| HBL | 181.99 | 182.4 | 175.26 | 12.03 | 1,742,922 |
This is an intraday market update.
Reference Link:- https://propakistani.pk/2024/11/28/psx-smashes-all-records-to-cross-100000-milestone/
Zamir Ahmed Awan is the founder and Chair of the Global Silk Route Research Alliance, a think tank in Islamabad. He studied engineering at Shanghai University in the 1980s, and years later he went back to China as Pakistan's science counsellor in Beijing, from 2010 until 2016, working on science and higher education cooperation between the two countries.…
