The bulls at Pakistan Stock Exchange (PSX) staged a commanding advance today, propelling the market to a new high as investor confidence was reinforced by reports of a UAE entity’s prospective acquisition of a strategic stake in the Fauji Group.
The anticipated investment has raised expectations that approximately US$1 billion in liabilities could be settled, while hopes have also strengthened that the remaining US$2 billion loan may be rolled over, significantly easing near-term financial pressures.
Riding this wave of optimism, the benchmark index climbed to an intraday peak of 2,010 points before settling at 173,896, marking a robust gain of 1,495 points or 0.86% for the session.
On the upside, FFC, UBL, PTC, EFERT, and SYS emerged as key contributors, collectively adding 957 points to the index.
Market activity remained healthy, with total traded volumes clocking in at 855 million shares, while overall turnover stood at Rs. 42.8 billion.
| SCRIP | PRICE | HIGH | LOW | CHANGE | VOLUME |
|---|---|---|---|---|---|
| WTL | 1.71 | 1.78 | 1.67 | 0.05 | 52,850,161 |
| DSL | 7.42 | 7.81 | 7.25 | -0.35 | 51,360,416 |
| PTC | 59.62 | 59.62 | 52.6 | 5.42 | 42,555,911 |
| BOP | 38.88 | 40.4 | 38.68 | -1.18 | 42,299,577 |
| TSBL | 3.36 | 3.98 | 3.26 | -0.6 | 39,954,758 |
| PIAHCLA | 28.9 | 30.2 | 28.51 | -1.84 | 38,865,024 |
| FFL | 20.97 | 20.97 | 19.5 | 1.91 | 30,954,904 |
As seen above in the table, WTL led the volume chart, with 52.8 million shares changing hands during the session.