PSX gains 314.13 points

Karachi: Bulls strengthened their hold on the market on Thursday following the announcement by the Election Commission Pakistan (ECP) of February 11 as the election date.

The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) increased 314.13 points, or 0.6%, on Thursday from its previous closing of 52,342.63 points.

Following the State Bank of Pakistan's (SBP) statement to keep its policy rate of 22 percent in order to limit inflation, which was in line with most experts' predictions, stocks have increased for the fourth day in a row.

Furthermore, October's inflation rate of 26.9 percent was reported by analysts, indicating a potential slowdown in inflation in the near future.

According to Topline Securities CEO Muhammad Sohail, month-over-month inflation has decreased to 1.08 percent, from an average of 2.4 percent over the previous three months.

So far, major activity was reported in stocks such as Worldcall Telecom Limited, TPL Properties Limited, Pakistan Refinery Limited, Cnergyico PK Limited, and Ghani Global Holdings Limited.

The top advancers include Agritech Limited, TPL Corp Limited, TPL Properties Limited, Dandot Cement Company Limited and Leather Up Limited.

The top decliners include The Universal Insurance Company Limited, Premier Insurance Limited, Tri-Star Mutual Fund Limited, Pakistan Oxygen Limited and Masood Textile Mills Limited.

Earlier, the Pakistan Stock Exchange’s KSE-100 index maintained a bullish trend on Wednesday.

Pakistan Stock Exchange’s KSE-100 index increasing by more than 400 points to raise trade volume above 52,000 — the highest in six years.

The index closed at 52,350, from the previous close of 51,930 points, signifying improving sentiments of investors in the market.