The Pakistan Inventory Alternate (PSX) prolonged its record-breaking rally on Wednesday, nearing the 172,000 factors mark.
PSX posted a robust bullish session because the KSE-100 Index closed at a contemporary all-time excessive of 171,961 factors, gaining 1,646 factors (+0.97%).
“Shopping for momentum remained agency all through the day, pushed by better-than-expected present account figures for November, which improved investor confidence and inspired contemporary positioning throughout key sectors,” mentioned Ali Najib, Deputy Head of Buying and selling at Arif Habib Ltd.
On the company facet, MLCF introduced a public supply to amass 11.72% of Pioneer Cement at PKR 478.43 per share, along with an SPA for 58.03%, elevating its whole meant stake to 69.75%.
In the meantime, the Nishat Group signed an SPA to amass as much as 75.69% of Rafhan Maize Merchandise, with DGKC set to amass a big 32.71% stake, highlighting rising M&A exercise. RMPL is a maize-based meals processor with annual gross sales of Rs 75bn.
Fertiliser, Banks & Cement sectors’ shares contributed essentially the most in the direction of as we speak’s rally as ENGROH, FFC, UBL, LUCK & BAHL added over 1500 factors, collectively.
Market exercise remained secure, with 947.7 million shares traded and whole turnover reaching Rs 54 billion. TPLRF1 led the amount chart with roughly 75.8 million shares.
Wanting forward, the market could try to scale additional highs within the closing session of the week. Nonetheless, sustaining the bullish momentum will hinge on a decisive weekly shut above the 170k degree, which might reinforce investor confidence and ensure the broader upward pattern.
