The Pakistan Stock Exchange (PSX) rallied to a new all-time high on Monday, surpassing its previous high of 68,416 seen on Friday last week.
After opening trade at 68,420 points, the benchmark KSE-100 index went up by 1.9 percent or 1,300 points at 1:30 PM to a new high of 69,720.
It closed at 69,619, up 1.76 percent or 1,203 points.
The KMI 30 index gained 1,913 points settling at 116,884, while the KSE All share index increased by 660 points to close at 45,697.
Monday saw a strong session on the opening day of this week. Massive participation was seen across the board. According to Arif Habib Limited (AHL), the standout sector was pharma SEARL PA (+7.1 percent), AGP (+5.13 percent), and ABOT PA (+4.86 percent) following the Lahore High Court ruling in favor of the pharmaceutical sector, nullifying the stay order against the deregulation of maximum retail prices. SEARL PA saw the most value traded during today’s session.
The trend remains strong with the current draw on liquidity at 70,000 now within t
ouching distance, the AHL note added.
Over 335.6 million shares were traded today at the bourse, while total value landed at Rs. 15.3 billion.
Top Volumes
The highest participation was witnessed in Pakistan Telecommunication Company Limited (PSX: PTC) with over 33.7 million shares traded, followed by The Searle Company Limited (PSX: SEARL) and Worldcall Telecom Limited (PSX: WTL). The scrips had 21.1 million shares and 18.1 million shares traded, respectively.
SCRIP PRICE HIGH LOW CHANGE VOLUME
PTC 17.09 17.4 16.31 0.83 33,757,114
SEARL 62.09 62.09 58.0 4.1 21,100,371
WTL 1.38 1.39 1.35 0.03 18,139,120
KEL 4.47 4.63 4.44 0.01 17,486,749
PIAA 26.2 27.1 25.64 -0.14 16,693,500
CNERGY 4.57 4.65 4.5 -0.07 14,680,380
HUBC 126.01 126.25 121.9 3.9 8,052,933
Investors opted to choose further strengthening in their equity position by doing value hunting across the board, especially in the blue-chip stocks, Topline Securities said in a separate note.
Source: Pro Pakistani