The Pakistan Stock Exchange (PSX) continued its upward trajectory on Tuesday, with the KSE-100 Index gaining 753.68 points to close at a robust 85,663.98 points. This marks a continuation of the bullish trend that has been seen in the market in recent weeks.
Mohammed Sohail, chief executive of Topline Securities, said that “continous buying from local and foreign funds” was helping the market reach new highs.
“Despite this, the Pakistan market is trading at PE [price-to-earning] of 4 times which is still attractive amid economic stability and falling inflation,” he added.
Trading volume saw a significant increase, with 506,565,368 shares exchanged, up from 449,507,635 shares on the previous trading day. The total value of traded shares also rose, reaching Rs. 33.049 billion compared to Rs. 30.196 billion on the last trading day.
Brokerage firm Topline Securities noted that the index has climbed 9 percent over the past month and delivered an impressive 80 percent return to investors over the last 12 months, highlighting the strong performance of the market.
A total of 448 companies participated in the trading session, with 193 recording gains and 194 experiencing losses, while the share prices of 61 companies remained unchanged.
Leading the trading activity were Hub Power Company, with 44,845,448 shares traded at Rs. 111.92 per share, followed by Pak Petroleum, with 21,544,867 shares at Rs. 128.12 per share, and Pak Refinery, with 21,345,096 shares at Rs. 25.57 per share.
