The Pakistan Stock Exchange (PSX) achieved a significant milestone on Wednesday as its 100-Index surged past the 80,000 mark, closing at 80,461.34 points. This represents a notable increase of 970.20 points from its previous closing level of 79,491.14 points. The impressive rise highlights the continued bullish sentiment in the market, reflecting growing investor confidence.
The day saw a total of 400,195,963 shares traded, which was a decrease from the 536,187,271 shares traded in the previous session. Despite the drop in trading volume, the total value of shares traded increased to Rs 15.904 billion, compared to Rs. 8.911 billion on the last trading day. This increase in value suggests that while fewer shares were traded, the overall market activity remained robust.
According to Topline Securities, the day’s bullish trend was driven by broad-based buying in blue-chip stocks. Major companies such as MARI, EFERT, UBL, MEBL, and FFC saw significant gains, contributing a combined 682 points to the overall rise in the index. This widespread interest in leading stocks underscores the strong market confidence in key sectors.
In total, 439 companies were active in the market, with 186 companies recording gains, while 199 companies experienced losses. The share prices of 54 companies remained unchanged, reflecting a mixed performance across different sectors.
The top three traded stocks of the day were led by WorldCall Telecom, with 32,229,775 shares traded at Rs 1.36 per share. Following closely was TRG Pak Limited, with 22,086,988 shares traded at Rs. 59.90 per share, and Pace (Pak) Limited, which saw 19,649,769 shares traded at Rs. 6.94 per share. These companies dominated trading volumes, indicating strong investor interest.
Among the notable gainers, Sapphire Textile Mills Limited experienced the highest increase in its share price, rising by Rs 57.88 to close at Rs. 1,148.77. Mari Petroleum Company Limited was the second-largest gainer, with its share price climbing by Rs. 41.59 to Rs. 457.49. These gains reflect positive investor sentiment and confidence in these sectors.
On the downside, Unilever Pakistan Foods Limited saw the largest decline, with its share price dropping by Rs. 182.77 to Rs. 17,367.23. Sapphire Fibres Limited followed with a decrease of Rs. 121.42, closing at Rs. 1,300.10. These declines highlight the volatility in the market, with some stocks experiencing significant losses despite the overall bullish trend.
The PSX’s achievement of crossing the 80,000 mark is a significant milestone, indicating a period of strong performance and investor optimism. The broad-based gains and increased value of shares traded suggest a positive outlook for the market, despite the volatility and mixed performance among individual stocks.
Looking ahead, market analysts anticipate that the bullish trend may continue, supported by sustained investor interest in blue-chip stocks and key sectors. However, ongoing market volatility and sector-specific challenges may influence future trading sessions, requiring investors to stay informed and cautious.
Overall, the PSX’s performance reflects a resilient market with substantial gains and continued growth, marking a significant achievement in the stock exchange’s history.