The Pakistan Stock Exchange (PSX) rallied to a new all-time high on Wednesday, surging past the previous record of 57,397.
After opening trade at 57,418 points, the benchmark KSE-100 index went up by 1.36 percent or 778 points at 12:40 PM to a new high of 58,150. At 12:45 PM, it clocked in at 58,217, up 1.47 percent or 845 points.
This is one of the fastest recoveries at PSX, with the market, previously $20 billion, now close to $30 billion, said CEO of Topline Securities Mohammed Sohail. “50% return in UD dollars in 6 months. After 6 bad years. And the good thing is… This recovery has just started. Market PE 3-4 times still at an unbelievable low levels,” he added.
https://twitter.com/sohailkarachi/status/1727222770159755449?s=08
The highest participation was witnessed in Worldcall Telecom Limited (PSX: WTL) with over 32.5 million shares traded, followed by Fauji Fertilizer Bin Qasim Limited (PSX: FFBL) and Fauji Foods Limited (PSX: FFL). The scrips had 15.3 million shares and 12.9 million shares traded, respectively.
| SCRIP | PRICE | HIGH | LOW | CHANGE | VOLUME |
|---|---|---|---|---|---|
| WTL | 1.68 | 1.75 | 1.63 | 0.01 | 32,598,202 |
| FFBL | 23.4 | 23.98 | 22.76 | 0.77 | 15,332,000 |
| FFL | 9.08 | 9.1 | 8.83 | 0.31 | 12,952,926 |
| ASC | 9.23 | 9.35 | 8.36 | 0.88 | 11,735,758 |
| KEL | 3.5 | 3.57 | 3.46 | -0.01 | 10,846,902 |
| TELE | 8.85 | 8.92 | 8.62 | 0.3 | 10,472,569 |
| SNGP | 63.49 | 64.15 | 60.31 | 3.23 | 10,170,469 |
This is an intraday market update.
