Daily Stock Report: PSX Gains 1084 Points to Close at 50,935

KSE-100 recorded a gain of massive 1084 points or + 2.18% by the end of the trading session to close at 50935.91 points.

The KSE-100 Index performance increased over 1126 points in intra-day trading today and crossed the 50000 index level barrier. Bulls drag the KSE 100 index to a new all-time high of 50977.

The upcoming MSCI review and Pakistan’s reclassification as an emerging market caused the KSE-100 Index to jump over 1,000 points on Monday. By 1.30 pm, the KSE-100 was up 1,000 points or 2.01% and hovered around the 50,854-point level.

The Index opened positive and continued to gain profits throughout the last trading session while closing in green, with heavy volumes.

Overall, volumes surged to over 300 million shares while in KSE 100 index around 144 million shares were traded.

Commercial banks was the top traded sector with total traded volume of 76,801,200 shares. It was followed by Chemical with a total traded volume of 43,285,840 shares and Engineering sector with a total traded volume of 28,629,300.

According to the market analysts banking sector and stocks that are part of the MSCI Pakistan Index took the leading position in bringing about this gain. The MSCI Pakistan Index taps the performance of the large and mid cap segments of the Pakistan market. With 16 constituents, the index covers approximately 85pc of the Pakistan equity market and lent the support to push the index past the 50,000 level today.

Shares of 410 companies were traded. At the end of the day, 255 stocks closed higher, 135 declined while 20 remained unchanged.

Engro Polymer was the volume leader with 34.94million shares, gaining Rs 0.02 to close at 30.95. It was followed by Bank of Punjab with 18.29 million shares, gaining Rs 0.34 to close at Rs 14.10, Aisha Steel Mill with 17.36 million shares, gaining Rs 1.16 to close at Rs 24.44 and Bank Al-Falah with 12.75 million shares, gaining  Rs 2.06 to close at Rs 44.06.

The top advancers of the market were:

Top declines of the market were:

Pakistan’s largest bank was trading at its highest price this decade. Habib Bank Ltd gained + 5% today to close at 305.55.

Credit rating agency Moody’s kept Pakistan’s B3 rating with a stable outlook in a recent analysis, which made a huge impact in the stock market as well.