Bulls Regain Control at PSX as Market Surges Over 700 Points Ahead of IMF Meeting

The Pakistan Stock Exchange (PSX) witnessed a strong rally on Wednesday, with shares climbing more than 700 points just hours before the International Monetary Fund (IMF) Executive Board meeting. Investor sentiment was buoyed by optimism surrounding the country’s economic outlook, leading to a significant market rebound.

The 100-Index of the Pakistan Stock Exchange (PSX) on Wednesday, gained 764.28 points, a positive change of 0.94 percent, closing at 82,247.92 points against 81,483.64 points on the last working day.

A total of 422,163,158 shares were traded during the day as compared to 369,620,812 shares the previous trading day, whereas the price of shares stood at Rs 18.380 billion against Rs. 17.062 billion on the last trading day.

As many as 437 companies transacted their shares in the stock market, 248 of them recorded gains and 126 sustained losses, whereas the share price of 63 companies remained unchanged.

The three top trading companies were Kohinoor Spinning with 51,886,989 shares at Rs8.92 per share, WorldCall Telecom with 29,716,479 shares at Rs 1.25 per share and Pace (Pak) Limited with 25,434,647 shares at Rs 5.91 per share.

PIA Holding Company Limited witnessed a maximum increase of Rs 89.75 per share price, closing at Rs 987.29, whereas the runner-up was Hallmark Company Limited with Rs 84.90 rise in its per share price to Rs 933.90.

Ismail Industry Limited witnessed a maximum decrease of Rs 83.28 per share closing at Rs 1,813.39 followed by Mehmood Textile Mills Limited with Rs 60.40 decline to close at Rs 554.07.