The Pakistan Stock Exchange’s (PSX) benchmark index KSE-100 soared to an all-time high on Wednesday, surging past the previous record of 54,222.38.
After opening trade at 53,735 points, the benchmark KSE-100 index went up by 1.3 percent or 684 points at 11 AM to a new high of 54,419. At 3:20 PM, it eased at 54,247, up by 0.95 percent or 512 points.
It settled with a gain of 525 points closing at 54,261. The KMI 30 index gathered 951 points settling at 92,301, while the KSE All share index surged by 335 points to end at 36,146.
According to Arif Habib Limited, the average daily traded value at PSX experienced a 2-year high and witnessed Rs. 20.1 billion, +10 percent DoD (highest since 30 November 2021).
The average traded value at PSX witnessed a 2-Year high
The average daily traded value at PSX experienced a 2-year high and witnessed PKR 20.1bn, +10% DoD (highest since 30 Nov’21). Additionally, the KSE100 index also reached an all-time high of 54,261, +1% DoD.@Pakstockexgltd… pic.twitter.com/lAnvLmr8f3
— Arif Habib Limited (@ArifHabibLtd) November 8, 2023
“After touching all-time high, PSX saw big volumes today. Rs20b (USD70m) shares were traded, which is a 2 year high. Institutional buying amid expectations that interest rates may fall sooner than expected due to falling global oil prices,” CEO Topline Securities Mohammed Sohail said in a tweet on X.
“Again, KSE 100 index is at all time high, but the KSE 30 Index, which follows the share prices of top cos (excluding dividends), is still 35% below its 2017 peak,” he added.
Overall market volumes clocked in at 482.7 million shares. Total traded value inched up on Wednesday to Rs. 20.129 billion.
Top Volumes
The highest participation was witnessed in Pakistan Refinery Limited (PSX: PRL) with 40.3 million shares traded, followed by Cnergyico PK Limited (PSX: CNERGY) and Hum Network Limited (PSX: HUMNL). The scrips had 38.4 million shares and 31.1 million shares traded, respectively.
| SCRIP | PRICE | HIGH | LOW | CHANGE | VOLUME |
|---|---|---|---|---|---|
| PRL | 22.68 | 22.84 | 21.15 | 1.01 | 40,299,656 |
| CNERGY | 4.34 | 4.35 | 4.18 | 0.16 | 38,445,342 |
| HUMNL | 6.73 | 6.8 | 6.3 | 0.42 | 31,180,500 |
| KEL | 3.12 | 3.18 | 2.97 | 0.08 | 29,919,963 |
| KOSM | 2.69 | 2.71 | 2.34 | 0.34 | 23,257,500 |
| WTL | 1.31 | 1.34 | 1.28 | 19,277,370 | |
| OGDC | 102.39 | 103.09 | 101.11 | 0.75 | 12,279,739 |
Meanwhile, equity markets around the world showed a negative trend. At 17:00 PKT, crude oil prices moved south with WTI crude oil price declining by 0.78 percent to $76.77, while Brent crude oil was down by 0.7 percent to $81.04.
