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PSX Posts Highest Ever Single-Day Gain In History

Pakistan Stock Exchange (PSX) made history today as the market witnessed a bullish trading session, gaining 1,700 points, the highest ever single-day gain on Monday.

The benchmark KSE-100 index registered all-time high gains of 1,700 points at today’s close, breaking the previous record of 1,566 attained on 5 June 2017.

Indices accumulated gains all day long while volumes appreciated from the last close. After opening trade, the market showcased bullish sentiments, with the benchmark KSE-100 index gaining over 1,400 points and rising above 45,000 within the first 10 minutes.

At the end of the day, the KSE-100 index closed at the 46,144.86 level, up by 1,700.38 points or 3.83 percent, breaching two barriers of 45,000 and 46,000 in a single session.

During the trading hours, bullish sentiment hit the roof as massive buying was seen across the board where investors celebrated some resolution of the highly uncertain political environment over the last few days.

Around 557.47 million shares were traded at the exchange, as PSX recorded the highest volumes in 2022, with 327 of the 383 active scrips advancing in value, only 45 declining, and 11 remaining unchanged.

JS Global’s Assistant Vice President, Muhammad Waqas Ghani, told Boostup Pakistan,

The stock market reacted positively today over clarity on the political front after the success of no-confidence motion in the national assembly. KSE-100 gained 1,700 points or 3.1% to close at the level of 46,145. Pak rupee also showed recovery on the other hand where it was trading at a PKR/USD of 182.9 in the interbank around close. Going forward, market trends will mainly depend on key economic indicators. Opposition’s decision to exert maximum pressure while remaining out of the assembly may introduce noise in the coming days.

Tech, Cement, Banks and Power sector stocks contributed positively to the exchange today where SYS, LUCK, TRG, HBL, and HUBC added 425 points, cumulatively. On the flip side, INDU, FHAM, and ABL saw some profit-taking today.

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