ISLAMABAD: The stock market in Pakistan continued to demonstrate robust growth and the KSE-100 benchmark index crossed 58000 points on Wednesday. The index gained 832 points and settled at 58,203 points at 12:45 Noon.
The volume of traded shares amounted to 137.6 million involving an amount of 7.714 billion rupees.
During intraday trading, the benchmark KSE-100 Index surged by 485 points or 0.85%, edging close to the 58,000 mark.
As of 11:20 am PST, the index is at 57,856.59, with a traded volume of 77.846 million shares.
This upward momentum is sustained by optimism surrounding improved economic prospects, driven by the International Monetary Fund’s (IMF) preliminary green light for the next loan tranche, a part of the ongoing $3 billion loan program.
Pending approval, Pakistan is poised to access SDR 528 million, approximately $700 million.
Within the KSE-100 index, various sectors are contributing to its support: Commercial Banks with 157.75 points, Oil & Gas Exploration Companies with 76.05, Fertilizer with 63.07, Food & Personal Care Products with 26.39, and Oil & Gas Marketing Companies with 19.92 points.
Key companies buoying the index include MEBL with 64.92 points, PPL with 33.02, BAHL with 31.77, OGDC with 26.22, and ENGRO with 19.29 points.
In the broader market, the All-Share index is currently trading at 38,853.92, witnessing a net gain of 344.75 points.
WTL remains in focus as the volume leader, particularly due to its US entity moving closer to its NASDAQ listing.
Notably, the fiscal year saw the KSE-100 soaring by 16,404 points or 39.57%, while the ongoing calendar year has witnessed a cumulative surge of 17,436 points, equivalent to 43.14% in the KSE-100.
