PSX opens fiscal year strong as KSE-100 hits all-time high
The current index is at 127,927.49, up 1.83% from the previous close of 125,627.31.
The market touched an intraday high of 128,149.46, while the lowest level recorded during the session was 126,113.27.
Total traded volume stood at 198.08 million shares, with a trading value of Rs16.83 billion
.
Analysts attributed the rally to positive investor sentiment supported by signs of economic and political stability, as well as optimism around fiscal reforms announced in the federal budget.
Earlier on Monday, PSX closed the fiscal year 2024-25 at a record high on Monday, where the benchmark KSE-100 index surged 1,248 points, or 1%, to 125,627.
According to Ahsan Mehanti of Arif Habib Corp, stocks hit a new all-time high at the year-end close, driven by record trading volumes following the rollover of $3.4 billion financing by China, which boosted foreign exchange reserves to over $14 billion, meeting the IMF's June 30 target and supporting rupee stability.
Read: PSX closes fiscal year at all-time high
At the end of trading, the KSE-100 index recorded an increase of 1,248.25 points, or 1%, and settled at 125,627.31.
In its review, Topline Securities commented that the local bourse wrapped up the fiscal year on a high note, carrying forward last week's bullish momentum with another stellar performance.
The benchmark index soared to an intra-day high of 1,369 points before closing with a gain of 1,248 points (up 1%) to settle at 125,627.
In its commentary, Arif Habib Limited (AHL) said that the week saw a solid start, with the KSE-100 gaining 1% to close above 125,600 points.
Some 71 shares rose, while 29 fell, where FFC (+1.52%), HBL (+3.51%) and Bank AL Habib (+2.7%) contributed the most to index gains.
Overall, shares of 481 companies were traded. Of these, 297 stocks closed higher, 152 fell and 32 remained unchanged.
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