PSX Makes History As KSE-100 Rallies Above 60,000 During Live Trade

The Pakistan Stock Exchange (PSX) rallied to a new all-time high on Tuesday, surging past the previous record of 59,811 and breaching 60,000 points.

After opening trade, the benchmark KSE-100 index went up by 0.53 percent or 759 points at 9:50 AM to a new high of 60,126. At 10:06 AM, it clocked in at 60,311, up 0.84 percent or 500 points.

At 10:20 AM, the KSE-100 index surged by 1.37 percent or 822 points to hit 60,633 points.

The index has gained roughly 50 percent in 2023 so far.

Commenting on the record, CEO Topline Securities Mohammed Sohail said, “Record but not surprising. Pakistan KSE 100 index gained 50% in only 5 months. From 40k to 60k. This is the fastest 50% rise in a few months after 2004. (But) When you have unbelievably low valuation (PE 3-4), such recovery is not at all surprising”.

The morning began on a positive note for the equity market, pushing the benchmark index to a new psychological milestone of +60,000.

Overall, the market experienced robust activity, with a total trading volume of 150 million shares, amounting to a value of Rs. 4.11 billion within the first hour of intraday trade.

The highest participation was witnessed in Kohinoor Spinning Mills Limited (PSX: KOSM) with over 33.9 million shares traded, followed by Treet Corporation Limited (PSX: TREETR2) and Worldcall Telecom Limited (PSX: WTL). The scrips had 17.1 million shares and 15.2 million shares traded, respectively.


This is an intraday market update.

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