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Surge in PSX reflects growing investor confidence


The Pakistan Stock Exchange (PSX) witnessed a remarkable surge, with the KSE-100 Index reaching a historic high of 67,756.04 points. This surge, a positive change of 1.30%, reflects the growing confidence among investors, especially foreign investors. The uptrend is attributed to various factors, including progress in privatisation efforts and increased foreign portfolio investment in government securities.

Analysts anticipate continued positive momentum in the stock market, with particular attention on cement stocks due to expectations of a rate cut in the coming months.

The trading volume also saw a significant increase, with 361,823,380 shares traded, valued at Rs11.901 billion as compared to 239,650,377 shares valuing Rs8.940 billion previous closing.

In the stock market, a total of 340 companies participated in share transactions, with 208 of them recording gains and 108 sustaining losses, while the share prices of 24 remained unchanged. Meanwhile, in the future market, 307 companies traded shares, out of which 212 recorded gains, 86 witnessed losses, and the share prices of 9 companies remained unchanged.

Among the companies trading on the PSX, PIAC(A), Flying Cement, and WorldCall Telecom were the top performers in terms of trading volume. Notable increases in share prices were observed, with Hallmark Company Limited and Lucky Cement Limited leading the pack.

According to details of companies trading PIAC(A) with 38,235,500 shares at Rs25.22 per share, Flying Cement with 21,459,500 shares with Rs8.79 per share and WorldCall Telecom with 20,977,567 shares at Rs1.38 per share.

Hallmark Company Limited witnessed a maximum increase of Rs43.21 per share price whereas the runner-up was Lucky Cement Limited with a Rs36.47 rise in its per share price to Rs798.66.

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