KARACHI: The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) rebounded on Wednesday, closing in the positive territory, as reported by ARY News.
The KSE-100 rose by 130.86 points, or 0.14%, to close at 93,355.43 points, compared to the previous day’s closing of 93,224.56 points.
The trading volume at PSX reached 807.06 million shares, slightly higher than the previous day’s turnover of 792.9 million shares.
The total value of shares traded amounted to Rs31.68 billion, up from Rs30.78 billion the previous day.
According to analysts at Topline Securities, the stock market experienced a consolidation phase, with the KSE-100 index peaking at 93,804 and dropping to a low of 92,943 during midday trading.
“Local mutual funds played a significant role in supporting the market’s recent rally, with positive contributions from MARI, LUCK, SEARL, ENGRO, and POL adding a total of 461 points. On the other hand, profit-taking in OGDC, FFC, and MEBL led to a combined loss of 213 points,” they noted.
A total of 450 scrips were active at PSX, with 196 advancing, 191 declining, and 63 remaining unchanged.
Rafhan Maize Products Company Limited was the top gainer, rising by Rs64.96 to close at Rs7,601, followed by Philip Morris (Pakistan) Limited, which gained Rs38.17 to settle at Rs827.67.
On the downside, Unilever Pakistan Foods Limited lost Rs221.8, closing at Rs18,858.09, while Mehmood Textile Mills Limited dropped by Rs45.57, finishing at Rs501.58.
