Bullish run at PSX as index crosses 116,000 points

Karachi: A positive global response to the easing of Trump-era tariff policies on China also impacted the Pakistan Stock Exchange on Monday, resulting in a bullish trend. This surge helped the index reclaim the significant 115,000 and 116,000-point levels.

Contributing factors to the market's upward movement throughout the day included the expected mid-month reduction in petroleum product prices, Turkey’s indication of support for Pakistan’s offshore drilling program in Makran involving 40 wells, and record-high remittances of over $4 billion received in March from overseas Pakistanis. At one point, the market gained as much as 1,641 points.

However, profit-taking in the final moments of trading reduced some of these gains. Ultimately, the KSE-100 Index closed at 116,390.03 points, up by 1,536.70 points. The KSE-30 Index rose by 479.12 points to 35,696.26, the KSE All Share Index increased by 707.47 points to 72,781.16, and the KMI-30 Index climbed by 2,158.95 points to 177,572.79.

Trading volume declined by 5.66% compared to Friday, with a total of 484.5 million shares traded. Activity was recorded in 455 companies, of which 247 saw gains, 145 saw declines, and 63 remained unchanged.

Notable gainers included PIA Holding Company, rising by Rs 132.95 to Rs 1,462.40, and Nestlé Pakistan, up by Rs 102.48 to Rs 7,173.33. Major losers included Hi-Tech Pakistan, falling by Rs 88.96 to Rs 3,233.01, and Indus Motors, down by Rs 19.52 to Rs 1,999.51.